Bibby Line Group has rejected a £15m bid from the Co-op to buy Costcutter, according to reports.

According to Sky News, the Costcutter owner had been approached by Co-op with an offer several weeks ago. Although the offer had been declined, further talks are still understood to be open. 

The news comes as Co-op's supply deal with Costcutter is set to start on 16 July as the symbol group's retailers get own-label products from the chain. Co-op's acquisition of Nisa had been given final clearance in May. 

Co-op declined to comment, while Costcutter has been approached for a statement. 

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