The Co-Op in Dundee’s Albert Street is due to be sold next month, with 20 staff transferred to new owners.
Fife-based convenience chain Greens has agreed a deal to purchase the large shop next week.
The acquisition is part of ambitious plans by Greens to open nine new shops this year.
The group has been supported by a £1.3 million funding package from HSBC.
As well as retaining the staff in the Albert Street branch, they intend to create 15 new roles and undergo a refurbishment.
A Greens spokesperson said: “The store will be acquired on September 6 and will open early October after a full refit.”
Co-op confirmed the sale of the popular branch earlier this month. It said: “The decision is in no way a reflection on the hard work and commitment of colleagues, who have been informed.”
Greens’ ambitious plans
A shift to a strategy to acquire existing shops has fuelled growth for Greens, which was formerly known as Eros Retail.
In the summer, the chain opened a shop in Kirriemuir High Street. The shop front also carries branding for Fife bakery Fisher and Donaldson whose products are sold in store.
Other new locations include Inverurie, Peterhead, Kinross, Shettleston and Fraserburgh. It will open a store in Aberdeen later this year.
The nine new shops will add around 160 staff to the Greens workforce and double the group turnover.
Harris Aslam, director at Greens Retail, said: “We’ve been working to evolve the convenience sector since our arrival in 2014 by concentrating on partnering with local suppliers to provide our stores with fresh produce.”
Tim Laundon, relationship manager at HSBC, said: “Greens Retail have a clear commitment to serving the community.
“The opening of these new stores will boost both the local economy and employment in these areas. We look forward to seeing the success of the new branches over the coming months.”
Greens previously planned to open a shop at Dundee Railway Station, which would have been a £350,000 investment.
It blamed Dundee City Council for a “lack of engagement” when it withdrew in 2020.
