Business

Nisa members vote in favour of £137.5m Co-op takeover

Nisa Retail members have given the green light to Co-op Group's £137.5 million takeover offer
PA Reporter

NISA Retail members have given the green light to Co-op Group's £137.5 million takeover offer, with 75.79 per cent voting in favour of the deal.

The company said that more than 24.21 per cent of its shopkeeper members voted against the Co-op's offer.

Nisa, who operate over 100 shops in Northern Ireland, has assured members they will "still enjoy the independence to operate their stores as they wish," assuming the deal is cleared by UK authorities.

The retailer said it expects the takeover to be approved by the Competition and Markets Authority (CMA) by the end of March 2018.

Nisa chairman Peter Hartley said: "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 unrecognisable 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."

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