The Co-op’s £143m takeover of Nisa approved by the Competition and Markets Authority (CMA), subject to a court sanction on May 4.
The Nisa board voted in favour of the proposal by Co-Op in November 2017 and the deal is hoped to be completed by 8 May. In a joint statement both parties said they were “delighted” at the agreement.
The takeover was approved on the grounds that the buyout would not affect customers as Co-op is a retailer and Nisa is a wholesaler. Nisa currently has 4,000 stores under its name that are able to control stock and price themselves.
Jo Whitfield, CEO of the Co-op said: “We’re delighted with the CMA decision and are really excited about sharing our plans for the future once we gain court sanction. Our strategy is to get closer to communities and our new business will create a strong product offer and improved prices for Nisa members that will engage their shoppers across the UK.”
