Co-operative Group to sell its farms and considers sale of pharmacy business
The Co-operative Group has said that it is planning to sell its farm business and is exploring options for the potential sale of its pharmacy chain.
The farming division operates 15 farms as well as three packing sites across the UK. The decision to sell the business has been taken as part of The Co-operative Group's ongoing strategic review.
The pharmacy division has 750 branches and 6,500 staff, making it one of the UK's biggest pharmacy chains.
In a statement issued today The Co-operative Group said: "As part of the wider strategic review of all of its businesses, The Co-operative Group has decided that its farms are non-core and has started a process that is expected to lead to a sale of the business.
"In addition, it is exploring options for the future of the pharmacy business; this could include the sale in whole or part of the business."
The announcement comes as reports suggest that The Co-operative Group is set to announce growing losses in its results for 2013 due next month.
Earlier this month, the group launched an online survey inviting members of the public to give their input on a number of issues that will help shape its future.
The survey also forms part of the strategic review which was launched in the wake of problems seen at The Co-operative Group’s bank last year when a £1.5 billion black hole was discovered.
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