The Co-op’s acquisition of Nisa has been approved by the Competition and Markets Authority.
The long expected decision means the regulator decided the deal will not cause a serious lessening of competition for consumers. A court sanction hearing on 4 May will complete the legal recognition of the deal.
Jo Whitfield, CEO of Co-op’s retail division, said: “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.”
Whitfield added that more details would be announced after the court sanction on 4 May. This is likely to include pricing models on goods sourced from the Co-op’s supply chain.
Nisa chairman Peter Hartley said: “Today’s ruling by the CMA is excellent news, and a significant step towards finalising the transaction that our members voted for last November. We are very excited about our future together, which will help ensure that our members are best placed to serve their communities.”
Nisa’s annual expo in Stoneleigh revealed what a Co-op owned Nisa store could look like. This included extensive Co-op product ranging alongside Nisa’s heritage branded products.
Chief financial officer at Nisa, Robin Brown said the deal would “bring a significantly enhanced range, own-brand proposition and continued high availability".
The news comes while Costcutter retailers await the delayed beginning of its own supply deal with the Co-op due to begin at the end of May.
Following the two deals, the Co-op will supply one in six convenience stores operating in the UK.
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