Co-op completes food stores acquisition

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The UK's Co-operative Group has completed a deal to acquire the Plymouth and South West Co-operative Society.

As part of the merger, the Co-operative will take on 67 food outlets based in the south-west of England.

This deal, or similar agreements, can often be completed through an Ansarada secure virtual data room, which allow business and legal advisors to perform due diligence in an encrypted, online environment.

Chief executive of south-west group, Douglas Fletcher, told the Grocer: "With the society on course for record profits when we announce our 2008 trading results next month, what better time to secure our future than now."

He added that the company had "a robust business and a strong balance sheet", and the merger would provide "benefits" for both employees and customers.

Staying in the UK, the marine services business Hamworthy has finalised an agreement to purchase the Netherlands-based ballast water treatment company Greenship.