Hewitsons has successfully completed a deal for Midcounties Co-operative, which has seen them acquire seven shops from the Thomas Cook and Co-operative Travel joint venture, helping expand the company’s travel division and further grow its high street presence.
Warwick-headquartered Midcounties Co-operative bought seven branches located in Solihull, Sutton Coldfield, Lichfield, Coventry, Acocks Green and Kingstanding in Birmingham, and Beeston in Nottinghamshire. All of the branches closed on 4 May 2012, following a network review after the merger of Thomas Cook, Co-operative Group and Midlands Co-operative. They have now been re-opened under Midcounties Co-op Travel, with all 26 staff moving as part of the deal.
The seven branches will be rebranded as Co-operative Travel and join Midcounties’ growing network as it continues with its aim to become one of the best independent travel retailers in the country.
Alastair Rowland, Group General Manager for Travel at The Midcounties Co-operative, said: “We were delighted to acquire the seven branches from Thomas Cook. The transaction was complex and Hewitsons were very helpful in adopting a pragmatic and solution focused approach to both parties to get the deal completed.”
Neil Harpham, partner at Hewitsons, said: “The transaction provided a great opportunity for our specialist corporate finance, commercial property and employment teams to work together to meet the commercial requirements of a key client, and deliver the deal within the required time-frame.”
For further information, please contact Neil Harpham on firstname.lastname@example.org or on 01604 463301