Wednesday to Sunday!
31 Jan – 4 Feb 2018
Members of wholesaler and convenience retail specialist Nisa Retail have voted significantly in favour of the Co-op Group’s offer to buy 100 per cent of the business for up to £137.5m.
Yesterday, members voted 75.79 per cent in favour and 24.21 per cent against the Co-op’s offer, which still requires clearance from the CMA. Clearance is expected around the end of March next year.
Nisa shareholders will receive an equal initial payment, a deferred share payment payable over three years, as well as additional rebates payable over four years.
Along with taking on the existing Nisa debt of £105m, 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.