Pupils from Grimoldby Primary School will be among the guests of honour, cutting the ribbon at 10am to mark the official opening.
The new 2,700 sq ft store will offer a Costa coffee dispenser and hot food, alongside its focus on food, wine, meal ideas and essentials.
The store will also deliver a funding boost for local good causes through its membership scheme, with members receiving a 5 per cent reward on the purchase of own-branded products and services, with a further 1 per cent benefitting local good causes.
Natasha Vause, Store Manager, said: “We are getting a great response and feedback for the new store.
“The Co-op is moving forward with real purpose and momentum, and we are delighted to have made such a significant investment in the community and to be opening the Co-op’s newest store.
“We look forward to welcoming members and customers into their new Co-op and serving the community.”
Phil Cooper, Area Manager, added: “Our ambition is to establish the new store as a local hub, a real asset for the community.
“We also want shoppers to know that they can become a co-owner and member of their Co-op. As a community retailer and a co-operative we give back to our communities, and our members can make a difference every time they shop with us.
“Simply by swiping their membership card when they shop with us Members will raise much needed funding for organisations locally who contribute to improving local life.”
There will be offers and promotions in and around the store to mark its launch, and students in Lincolnshire who hold the NUS extra card will receive a 10 per cent discount off their groceries to support them through their studies.
Visit www.coop.co.uk/membership for more information.