Advertisement

Nisa shareholders back Co-op takeover

From BBC - November 13, 2017

Shareholders in the Nisa convenience store group have approved the chain's 137m takeover by the Co-operative Group.

The deal was narrowly backed, winning of 75.79% of shareholders' votes at an emergency meeting. The offer needed to be supported by 75% of shareholders.

Nisa is a member-owned business that has more than 3,000 stores and operates a wholesale business.

The board said he deal was in the "best interests" of members.

Nisa chairman Peter Hartley said: "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."

Advertisement

Continue reading at BBC »