The High Court of Justice in England and Wales has sanctioned Nisa’s sale to the Co-op, formally completing the Co-op’s acquisition.
This comes despite a last ditch effort to derail the deal by a small group of rebel Nisa members who financed a legal challenge presented at the court sanctioning.
The Co-op previously said more details of the deal including pricing would be revealed following the court sanctioning.
Speaking following the court’s decision, Nisa chairman Peter Hartley said: “The acquisition of Nisa is now set to complete on 8 May. The mood among our retailers is one of excitement as we look forward to life together with the Co-op. Our attention now turns to the future, and ensuring the benefits of the transaction are quickly passed to our members and their customers.”
The deal has faced a series of tests to win the approval of Nisa members, regulators and the courts. The first, a Nisa retailer vote, just about passed the required 75% in favour threshold in November. The Competition and Markets Authority then opened an investigation into the deal before concluding that it would not substantially lessen competition in mid-April.
Commenting on what the deal means for Nisa members, Harj Dhasee from The Village Store in Mickleton, Gloucestershire, said: “We will be given access to the same margins, lines, own brand produce, support and technology that was previously the preserve of only the biggest brands in grocery retail. I’m excited not just as a retailer, but as a customer as well.”
Read more: Individually-branded Nisa retailers fear identity crisis following Co-op takeover