Waitrose has agreed to acquire 13 stores from the Co-op, which have arisen from the Group’s £1.6 billion takeover of retail rival Somerfield.

Waitrose has agreed to acquire 13 stores from the Co-op, which have arisen from the Group’s £1.6 billion takeover of retail rival Somerfield.

The company said the deal is one of the largest in its history, which will consolidate the supermarket’s position as well as boosting its presence in regions where it is currently under-represented.

The upmarket food retailer also plans to expand organically this year with nine new branches. Steered by MD Mike Price, Waitrose has the intention of targeting over two million new customers.

The 22 new stores will expand its estate to 220 in the UK, an increase of over ten per cent to its existing portfolio.

Mark Price, Waitrose MD, commented: “There is a real weight of evidence that businesses that continue to invest during tough economic times fare much better when the economy begins to recover. Our new shops will help ensure Waitrose is in the best shape possible coming out of the recession.”