Coop Estense marries Bologna and Reggio – New Ferrara

Ok the merger of the three major consumer cooperatives District Adriatic: Coop Adriatica, Coop Estense and Coop Northwest Consumers to create the largest Italian cooperative with 2, 6 million members, 4.2 billion euro turnover, 334 stores including 45 hypermarkets, 19,700 employees. The merger was voted unanimously yesterday by the boards of the three cooperatives in their offices in Bologna, Modena and Reggio Emilia by unanimous vote. The logo is already the same, until now were different managements and areas of expertise. “With this choice – it is stated in a note – you want to help support and revitalize the role and effectiveness in cooperative mission, both in the North and the South of the country.” The aim is to create a maxicooperativa that even other industries, from construction to start, in recent years, has managed to build. The crisis is making its effects felt also in the food sector so here’s this acceleration aimed at creating a true giant in order to rationalize costs and to better address a situation that is certainly not easy. A sort of large Coop, in short, who arrives late years than expected, but plays in advance without having to belly compromised situations. Coop Estense, Modena giant, was founded in 1989 by the unification of Coop Coop Modena and Ferrara, but also operates in Puglia – where it seems that the accounts do not go then booming – and in the province of Matera, Basilicata.

Northeast Coop was founded in 1995 by the unification of Coop Nordemilia and Consumers Coop Friuli-Venezia Giulia, operates in large areas of Emilia, Lombardy, Trentino, Veneto, Friuli-Venezia Giulia. Coop Adriatica is the cooperative of Bologna ranging in Romagna, Marche and Veneto (present in

our territory in Cento). The group is composed not only by the Cooperative as parent, two companies operating in the retail sector and more than 15 operating in the financial field, television, real estate and pharmaceuticals. The sale of food and not, generally carried out by the Cooperative, confirming the prevalence mutualistic, was held for more than 75% from shareholders. The real estate activities of the group is aimed at the development of the sales network, made by real estate companies who investments for the start-up of large areas of sales and marketing then the units of medium and small surface. Significant part of instrumental has been conferred since 2003 to fund Estense supermarket chains, specifically established by the banking group BNL. In 2009 the group has changed mainly due to the acquisition of 100% of the share capital of the company IS Five SSL, owns three hypermarkets to Carrefour. They are also the first names compared to scenarios. Coop Estense and Coop Northeast would be the most enthusiastic about this merger, so that it is already assumed to arrive soon to a presidency signed Paul Cattabiani, in agreement with Mario Zucchelli, which would leave the leadership.