The Co-operative Group has confirmed that it has started the process to sell its 15 farm holdings in addition to exploring options in connection with its future pharmacy business.
The Co-op Group’s farms business dates back to 1896 and covers 50,000 acres of land in England and Scotland.
The announcement comes following recent heavy losses and a refinancing strategy designed to plug deficiencies in its balance sheet.
A Co-op spokesman said:
“As part of the wider strategic review of all of its businesses, the Co-operative Group has decided that its farms are a non-core and has started a process that is expected to lead to a sale of the business”.
We will of course keep you updated on the sell-off proposals.
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