Retail

The Co-Operative Advances Talks To Acquire Nisa

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UK retailer The Co-operative has entered into talks to acquire convenience chain Nisa, trumping its rival Sainsbury's, according to Sky News.

The news outlet reports that the board of Nisa Retail has granted a period of exclusivity to the Co-op to negotiate a takeover of the business.

Nisa's chairman Paul Hartely informed shareholders that the Co-op had 'confirmed, subject to further due diligence, its intention to progress matters as quickly as possible'.

Earlier this month, Sainbury's halted talks over its potential £130 million takeover of Nisa, which operates over 2,500 independently-owned stores across the UK, after concerns that it would lead to a competition investigation.

Convenience Competition

The battle to consolidate the convenience store market in the UK is ongoing. In June, it was reported that Sainsbury's was close to submitting a formal bid to acquire Nisa, which was seen as a counter to Tesco’s £3.7 billion acquisition of Booker.

However, the UK's Competition and Markets Authority is currently investigating the proposed Tesco-Booker merger, to asses 'whether the deal could reduce competition and choice for shoppers and other customers'. A decision is expected before the end of 2017.

Meanwhile, earlier this month, discount retailer B&M acquired convenience-store chain Heron Food Group.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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