UK: Co-op Group in farm sell-off
PUBLISHED: 10:51 26 February 2014 | UPDATED: 10:51 26 February 2014
The Co-op Group is to sell its farming assets and will consider the future of its pharmacy business as part of plans to revive the troubled mutual.
The group, which is reportedly set to announce losses of £2 billion in results for 2013 due next month, has started the process of selling the agriculture business.
It employs around 200 people across 15 farms covering 17,200 hectares, a spokesman said.
One of the farms is at Coldham Estate at Wisbech in Cambridgeshire, and it also has three packing sites.
The group confirmed that it is exploring options on the pharmacy business, including the sale of all or part of the operation. The division is one of the UK’s three largest pharmacy chains, with 750 branches and 6,500 staff.