David Sands takeover is approved

David Sands' outlet in Wellesley Road, Methil.

David Sands' outlet in Wellesley Road, Methil.

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THE Co-operative Food’s takeover of David Sands Ltd. has been approved by the Office of Fair Trading (OFT).

The purchase will see 28 David Sands food stores, including shops in Methil, Leven, Methilhill and Kennoway, taken over by the supermarket chain, part of The Co-operative Group, for an undisclosed sum.

The acquisition, which is expected to legally complete by the end of the month, will see almost 700 David Sands’ staff join the Co-op.

The OFT was said to be checking whether the takeover, which was announced in January, could result in a “substantial lessening of competition”.

David Sands Ltd. was founded in 1812 and operates stores across Fife, Kinross and Perthshire.

The Co-op, which currently has 370 food stores in Scotland, has given an assurance it will retain a Post Office service in six branches.