CMA approves Co-op-Nisa takeover
Nisa's acquisition by The Co-operative Group is greenlit by the competition watchdog
The Co-operative Group's acquisition of Nisa has been approved by the Competition and Markets Authority.
The competition watchdog gave the £143m deal the go ahead after an initial probe found no reason to believe a second, deeper investigation was necessary. Shoppers were found to be no worse off should the deal go ahead because Nisa is a wholesaler and Co-op a retailer. The 4,000 Nisa stores are additionally free to set their prices and choose their own stock.
“Millions of people throughout the UK shop at convenience stores and supermarkets, and it is vital that they continue to have enough choice to get the best value for them,” the CMA’s Senior Director of Mergers, Sheldon Mills, said. “After careful consideration, we’ve found that there is sufficient competition in both the wholesale and retail sectors to ensure that shoppers are not worse off.”
The deal will see Co-op nearly double the number of stores they supply from 3,800 to 7,000, while Nisa will retain independence as a brand and business.
Peter Hartley, Chairman of Nisa, called the ruling "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," he added.