The Co-op has completed its acquisition of Nisa Retail Limited. This follows approval by the Competition and Markets Authority and the Court’s recentdecision to sanction the transaction .
In the new deal Nisa’s 1190 shopkeepers will receive £20,000 up front from Co-op, alongside deferred payments worth more than £410,000 for those owning more than 250 shares in Nisa.
This transaction provides an environment in which independent retailers can flourish. Primarily it brings enhanced buying capability, allowing Nisa Partners to trade their businesses in the way they choose. As a result of combined buying synergies this acquisition brings the benefit of competitive prices and promotions for Nisa Partners and access to a deeper range and industry leading own brand proposition.
Ken Towle has been appointed as Nisa’s new CEO and he will take up the position with immediate effect. He will replace Arnu Misra who successfully performed an interim CEO role that saw through the completion of the acquisition. Arnu will remain in the business for a transition period to ensure a smooth handover to the team who will be in place to lead the business into the future.
Commenting on the decision, Jo Whitfield, Chief Executive Officer, Co-opRetail, said: “This is exciting news. Co-opand Nisa have all the ingredients for a successful partnership which will include the offer of award-winning Co-opown brand products. It will give Nisa Partners a wholesale operation of scale, allowing them the flexibility to trade their businesses in the way they choose, whilst benefiting competitive prices and promotions on an industry leading own brand.
“Our strategy is to get our award-winning own brand product closer to communities and our new business will create an exciting product offer for Nisa Partners to engage their shoppers with across the UK.
“I’m delighted that Ken will lead the business for us and would like to thank Arnu for the work he has done alongside the Nisa Executive team to make this acquisition such a success and we appreciate his support as we transition.”