Co-Op supermarket (archives)
Co-Op Israel opening kosher supermarket chain in UK
Third largest marketing chain in Israel to launch its first store abroad during first half of 2009
The Co-Op Israel chain headed by CEO Rami Mandel will open stores abroad for the first time.
Mandel and the Co-Op secretariat members met last weekend in Manchester with Co-Op Britain President Pauline Green, who is also chief executive of the Co-operatives UK, and decided to open a chain of kosher supermarkets which will be equally owned by Co-Op Israel and Co-Op Britain.
Co-Op Britain has some 700 stores and is considered the fourth largest marketing chain in the United Kingdom. The chain's volume of sales over the past year totaled some 12 billion pounds (about $18.4 billion). Co-Op Britain recently purchased a chain of 700 convenience stores in a deal which is in the process of being approved by the supervising body in England.
Co-Op Israel is the third largest marketing chain in Israel and includes 50 stores spread out across the country, from the town of Kiryat Tivon in the north to the city of Dimona in the south.
The first kosher Co-Op store in England is expected to open during the first half of 2009 at the Golders Green area and to spread over 700 square meters (7,534 square feet). About a million pounds ($1.53 million) will be invested in the store.
Mandel said in response, "We estimate that Co-Op Israel and Co-Op Britain will open together five kosher stores across England within three years.
"The chain will be founded with a 50-50 partnership agreement, but will be run 100% by Co-Op Israel using the same concept of Co-Op stores in Israel. The first store is expected to yield a volume of sales of NIS 35-50 million (about $8.8-12.7 million) in its first year."
The Co-Op Israel chain is owned by a cooperative society. Until two years ago it was called Co-Op Jerusalem and had 20 stores in the Jerusalem area only. In the past two years Mandel launched a strategic move to turn the chain into a national one with 50 stores.
