Co-operative Group chief executive Peter Marks said he would consider making a bid for rival chain Somerfield, as Co-op unveiled strong festive food sales.

Marks said: “Clearly, if Somerfield is an opportunity, we will look at it. I have looked at it in the past.”

He added: “We will continue to be acquisitive over the next three years and look for other opportunities to grow our business, particularly in food.”

However, he stressed that he was not actively pursuing Somerfield and admitted he was not even aware it was up for sale – despite Somerfield chairman John Lovering’s comments last year that he would sell if he received an attractive offer.

The Co-operative Group – which is the world’s biggest consumer co-op – posted an increase in like-for-like food sales of 3.4 per cent in the three weeks to January 5, driven by a strong performance from convenience stores and remodelled shops.

C-store like-for-likes for the period rose 6.2 per cent. Total food store sales advanced 5.2 per cent to hit£275 million.

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