Co-op makes multimillion pound offer for Nisa stores

SHARE THIS STORY
10 October 2017 9:01PM

The Co-op is set to take over fellow retailer Nisa Local.

Nisa's board has unanimously recommended to its shareholders an offer of up to £137.5m.

If this deal goes ahead Nisa stores would have access to the Co-op's range of products and could become franchisees of the organisation.

Nisa has stores in Cleator Moor, Egremont, Penrith and Whitehaven.

Jo Whitfield, food chief executive of The Co-op, said: “This acquisition provides the opportunity to create an even greater and more compelling member-led presence within the UK convenience sector. We believe we have presented a compelling offer for Nisa members, with a future proposition that would bring them our award winning own label products and wide range."

Peter Hartley, chairman of Nisa, said: "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."

Nisa members will vote on the takeover next month.

Comment on this article

Generate a new code
Comments not OK? Click here to let us know