The Co-operative Group (Sunwin Services Group)

19th February 2024
|By Mike Simson

The Co-operative Group (“the Group”) announces 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.

Cardtronics, Inc. is is the largest ATM owner/operator in the world and is headquartered in Houston Texas.

Pinsent Mason acted as legal adviser to the Group and Mike, Simson, Partner at Regent Evolution, led a team which acted as financial adviser on the transaction.