Somerfield succumbs to £1.56bn Co-Op bid

The Somerfield supermarket brand, previously Gateway but actually founded in Bristol as JM Mills in 1875, is likely to disappear following a takeover today by Co-Op. The 300 jobs at the Whitchurch HQ are also under threat and there are likely to be further cost savings as stores are rationalised.

Co-Op on the trail of Somerfield

The Co-Op is said to be lining up a £1.5 billion takeover of Somerfield. The Bristol-based supermarket group has had a chequered history over the last decade and is currently owned by a private equity-based consortium.