Scotmid and Penrith Co-operative Societies are pleased to announce that their merger is now complete, following today’s official handover (14 October 2013).
The completion of the merger follows the results of two meetings for Penrith Co-operative members on 13 August and 28 August 2013 and approval by the Board of Scotmid Co-operative, where members voted in favour of merging the two Societies.
The new name for Penrith Co-operative stores will be unveiled in the near future.
John Mills Chief Executive Officer of Penrith Co-operative said: “This is an exciting time in the history of this society and we look forward to working with colleagues from Scotmid”.
John Dalley, Chief Financial Officer of Scotmid Co-operative said: “We are delighted that our merger with Penrith Co-operative is now fully official and it marks an important chapter in our 154 year history of co-operation. The support from the Boards of both Penrith and Scotmid Co-operative and their members for the merger to proceed has been tremendous. We would like to thank everyone that has helped to complete our merger and we look forward to announcing the new name for Penrith Co-operative in due course.”