The Co-operative Group completes on Sunwin Services Group sale
03 November 2014
The Co-operative Group ("the Group") announces today that it has completed the deal to sell its Sunwin Services Group business to Cardtronics for a total consideration of up to £41.5m*, payable in cash.
The Sunwin Services Group includes the following services
- Cash & Valuables in Transit
- ATM Support
- Sunwin Managed Security
All 1,500 Sunwin Services Group colleagues will transfer under TUPE regulations to Cardtronics who will also take on the Head Office in Bradford and 14 regional depots.
The Group has also entered into a commercial contract with Cardtronics for the operation of the ATM estate within The Co-operative Food stores.
Pinsent Mason acted as legal adviser to the Group on this transaction.
*total consideration dependent on profile of ATM estate at time of migration
For further information contact:
The Co-operative Group
Russ Brady / Catherine Turner / Craig Brownsell
Tel: 07880 784442 / 07834 090783 / 07843 648467
Tel: 020 7353 4200