- 11 October 2017
- Transport / Logistics Services
Convenience store network Nisa’s board is to recommend that the 1190 owner / members of the network accept a £137.5 million takeover bid from the Co-Op Group.
Under Co-Op’s plans, Nisa will remain as a stand-alone business and brand. Nisa has around 3200 stores nationwide. The plans are to attract new members to the business. The Nisa members will also be able to apply to become Co-Op franchisees.
The vote will take place in November.
“Over the past three years, Co-op Food has been completely transformed through a convenience-led focus on delivering great value products for our members and creating real value for them and their communities,” said Jo Whitfield, The Co-op’s Food chief executive. “This acquisition provides the opportunity to create an even greater and more compelling member-led presence within the UK convenience sector.”
Peter Hartley, chairman of Nisa, said: “The Board was unanimous in its decision to recommend the Co-op offer. While the business has made significant strides in recent years, we firmly believe that the combination with the Co-op is in the best interests of our members. The Co-op offers the right blend of buying capability, convenience expertise, and respect for the heritage of our business, to enable our members to fully thrive in this new partnership.”
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