CO-OPERATIVE Group has announced the acquisition convenience store company Alldays from its receivers. The firm’s 34 shops in Kent will remain open, with no job losses predicted in the short term.

A Co-operative spokesman said: “We plan to operate the acquisitions as stand-alone businesses while we evaluate the best way to integrate the company.“As of today, it’s business as usual at our stores and the Alldays stores.”

The spokesman said that there is very little overlap between the stores. Although there are some areas - Snodland, for example - where Alldays and the Co-op have previously been in competition.

Alldays is one of the largest convenience store chains in the UK, operating 600 owned stores as well as 30 stores run by independent franchisees. The only franchised Alldays in Kent is in Ashford. For the year ended October 28, 2001 Alldays generated turnover of £524.9 million.

The Co-operative Group believes that the acquisition represents an attractive addition to its existing food retailing operations and will further strengthen its position in the convenience store sector. The Group will assume responsibility for creditors and employees of Alldays and, in addition to the payments made to the receivers, will also make a payment to the shareholders of Alldays of 5p per share, which in aggregate will amount to approximately £2.2 million.

Martin Beaumont, chief executive of the Co-operative Group, said: "This deal establishes the Co-operative Group as the UK's leading convenience store operator.

"Following the successful integration of Co-operative Wholesale Society and Co-operative Retail Services, like-for-like sales in our Welcome convenience stores are running at 7 per cent up - well ahead of the market - while profitability in food retailing has more than doubled since the merger. The acquisition of Alldays will help us to build the momentum behind our highly successful convenience proposition."