Financing a landmark Cooperative merger with purpose at its core
- United Kingdom
ABN AMRO is proud to have acted as Senior Mandated Lead Arranger (MLA), Security Agent and Facility Agent on the landmark merger of Central Co-op and The Midcounties Co-operative, two of the UK’s largest independent retail co-operative societies. This transaction brings together two organisations with a shared heritage, strong community roots and a clear commitment to sustainable, purpose led growth.
OurCoop – a strong cultural fit
The new co-operative Society, OurCoop, brings together almost 500 food stores, alongside travel, funeralcare, Early Years and mobile, energy and broadband businesses. The merger creates a stronger purpose-led organisation, owned by and serving more than one million members nationwide.
With ABN AMRO establishing as a trusted and reliable partner in the UK food and beverage sector with mutual values, the transaction reflects a strong cultural alignment between the organisations
Through early engagement with the client and its advisors, ABN AMRO played a central role in structuring and delivering the financing, coordinating multiple stakeholders to support the merger while ensuring execution certainty.
Graham Lundie, Head of Food & Beverages at ABN AMRO UK commented: “Our relationship with OurCoop is underpinned by a shared belief in mutuality, sustainability and socially responsible business models. While some organisations across the market have stepped back from sustainable investment commitments, the co‑operative movement continues to advocate for long‑term, inclusive growth - a philosophy closely aligned with ABN AMRO’s own approach.”
Selina Butterfield-Mashoofi, CFO, OurCoop, commented: “ABN AMRO demonstrated early conviction, deep sector expertise and a genuine commitment to the co‑operative values throughout the process. The merger creates a stronger, more resilient co‑operative with the scale and capabilities to deliver operational efficiencies, reduce costs and invest in sustainable growth.”
As a trusted partner, this transaction underscores ABN AMRO’s purpose of Banking for better, for generations to come – supporting clients that balance commercial success with positive social and environmental impact. Commenting on the transaction, Zafar Khan, Head of Corporate Banking Clients, ABN AMRO UK, said: “We are delighted to join OurCoop’s bank group given our shared values of community and sustainability and our strong relationship. Furthermore, this transaction shows the strength of our execution capabilities and our commitment to the sector.”
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Graham Lundie
Head of Food & Beverage, ABN AMRO UK