Nisa Retail members vote in favour of Co-op Group offer

Nisa Retail, the delivered wholesaler and convenience retail specialist, was pleased to announce this week that its members have voted significantly in favour of the Co-op Group’s offer to buy 100% of the Nisa business.

At the Court Meeting of the members held at Elland Road, Leeds, on Monday members voted 75.79% in favour and 24.21% against the Co-op’s offer. The offer requires clearance from the Competition and Markets Authority, which is expected around the end of March next year.

Nisa Chairman Peter Hartley said: “We are delighted that our members have chosen in such significant numbers to vote in favour of Co-op’s offer. We as a Board are firm in our belief that a combination with the Co-op is in the best interests of Nisa’s members. The convenience store environment is changing rapidly, and is unrecognizable from that which existed when Nisa was founded more than 40 years ago. Co-op will add buying power and product range to our offering, while respecting our culture of independence.”

Jo Whitfield, CEO Co-op Food said: “We are delighted that Nisa members have supported our offer and our ambition to create a stronger member-led presence within the UK convenience sector. Together Co-op and Nisa can go from strength to strength, serving customers up and down the country and creating real value for them in their communities. Our offer remains conditional on CMA approval and we remain in discussions with them.”

The combination is expected to bring significant immediate and long-term benefits for Nisa members including access to greater scale, the Co-op’s award-winning range and own label proposition. Members will still enjoy the independence to operate their stores as they wish, and will be able to remain part of a member-owned organisation within the growing UK convenience retail sector.

Marcus Proudfoot, Managing Director of the Proudfoot Group, added: “The Proudfoot Group was firmly in favour of the deal as the Co-op will add buying power and product range to our offering while respecting our culture of independent retailing. We look forward to expanding and broadening our supply relationship with Nisa via The Co-op Group.

“The Proudfoot Group will remain independently owned and operated by the Proudfoot family. We’re excited by the prospects of working with The Co-op Group and the synergy benefits it will afford us, strengthening The Proudfoot Group offering and delivering the best value, range and service for our customers.”