SAINSBURY'S will be taking over the Somerfield store in Bude later this year.

Sainsbury's last week announced it had exchanged contracts to acquire the Somerfield store in Bude. The acquisition is expected to complete over the next couple of months.

The store will then close for a period of refurbishment and re-branding and will re-open as a Sainsbury's later this year.

Sainsbury's say the new store will provide "improved and modernised shopping facilities" for the local community, offering an excellent fresh food and grocery range.

Sainsbury's have acquired 24 stores from the Co-operative Group, including 22 Somerfield branded stores and two Co-operative branded stores. The stores have been purchased for £83 million and a further £45 million of fit-out costs will be incurred.

All colleagues employed at the Bude Somerfield store will be offered employment with Sains­bury's under TUPE regulations.

Chris Templeman, Head of Acquisitions for Sains­bury's said: "The Bude Somerfield presents an excellent opportunity for us to bring the Sainsbury's offer to the area. We look forward to welcoming new colleagues to Sainsbury's.

"I am also pleased to confirm that all former Somerfield colleagues will be offered jobs at the new store. During the closure period our new colleagues will undergo training in preparation for the opening of the new store."

The acquisition by Sainsbury's comes just weeks after Waitrose announced it was taking over the Somerfield store in Holsworthy.