Co-op appoints Director of Property, Development and Estates as it drives growth ambitions
25 April 2024
Rachel Hargreaves has joined Co-op as Director of Property, Development and Estates, it has been confirmed today (Thursday, 25 April), as the leading convenience retailer drives strategic growth plans.
Joining Co-op from Lidl GB, Rachel’s position involves a focus on ensuring Co-op is at the forefront of landowners, developers and agents minds as the go-to convenience operator for new retail floor space – whether that is freehold or leasehold sites for Co-op’s own operations, or locations for its growing franchise business which enables Co-op to bring its products and the benefits of membership to more communities.
The role also includes directing and leading on new initiatives to maximise the potential of the retailer’s existing portfolio of properties.
Rachel will report into Co-op’s Group Property Director, Heather Thomas.
As Regional Head of Property at Lidl GB, Rachel’s role involved the implementation of its expansion strategy, including the appraising, budgeting, planning and co-ordination of the delivery of a five year plan of acquisitions, construction, asset and estate management.
Rachel Hargreaves, Director of Property, Development and Estates, Co-op, said: “I am thrilled to join Co-op at such a key time. Co-op is an iconic British household name that is marking its 180th anniversary, and it is clear that the importance of co-operation in communities across the UK could not be more relevant today. This is an exciting opportunity with Co-op focussed on delivering increased value for its member-owners, and well placed to target additional growth through its core business areas.”
Co-op’s Group Property Director, Heather Thomas, said: “With our stores located at the heart of local community life, we are planning for the future with a focus on growing our business for our member-owners, and enhancing the value we deliver to them and their communities – whether that is acquiring new space or maximising the potential of our existing estate. Rachel brings a wealth of experience and joins us at an exciting time as we continue to put in place the building blocks for our strategic growth plans across our Co-op.”
Co-op is one of the world’s largest consumer-owned co-operatives. Its Member-owners own the business and play an intrinsic part in the governance of the organisation, enjoying a wide number of benefits including member-only pricing across everyday essentials and personalised offers via the Co-op Membership app.
In addition to Food, Co-op has interests across funerals, insurance and legal services, and alongside a clear focus on increasing the number of its member owners from 5 million to 8 million, by 2030, Co-op is targeting additional growth through its three core business areas of Food Retail, Business to Business (B2B) and Life Services.
Earlier this month (April) Co-op reported substantial membership growth, with over one million new members joining Co-op in 2023 and momentum continuing into 2024 and now standing at 5.2 million active member-owners. It is focussed on increasing the number of member-owners to eight million, by 2030. In 2023 Group revenue was £11.3 billion, and its Food Retail revenue was £7.3 billion, with Food underlying operating profit for 2023 increasing 11% year-on-year to £154 million (2022: £139 million).
Online grocery sales also continued to grow in 2023, reaching £311 million (2022: £222million), and Co-op secured top position in the quick convenience market in the second half of last year (Neilsen). Co-op aims to grow its overall quick convenience (ecommerce) market share to 30% in the next four years - its online 'quick convenience' model sees groceries picked fresh in local stores and delivered quickly and conveniently in the community.
For more information about Co-op and the benefits of membership, visit www.coop.co.uk/membership
Landowners, developers and agents can contact the Co-op Property Team by emailing property@coop.co.uk
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About Co-op:
Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance and legal services. Owned by millions of UK consumers, the Co-op operates almost 2,400 food stores, over 800 funeral homes and provides products to over 6,000 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited. Employing 56,000 people, the Co-op has an annual turnover of over £11billion and is a recognised leader for its social goals and community-led programmes. The Co-op exists to meet members’ needs and stand up for the things they believe in.
Further information:
Andrew Torr
Senior Press Officer, Co-op Press Office
M: 07702505551
E: andrew.torr@coop.co.uk / pressoffice@coop.co.uk