Co-op’s £140m Nisa takeover was just green lit by the competition watchdog
The Co-operative has been given the green light to take over convenience store wholesaler Nisa by the competition regulator.
Following an initial investigation into the merger, the competition and markets authority (CMA) has decided not to refer the deal for an in-depth probe.
The £140m offer was made last October, after rival Sainsbury's walked away from a potential acquisition of Nisa.
Nisa's shopkeeper members have already voted in favour of Co-op's takeover offer, leaving the path clear for the deal to complete in early May following a court hearing.
Jo Whitfield, chief executive of Co-op Retail, said: “Were delighted with the CMA decision and are really excited about sharing our plans for the future once we gain Court sanction. 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 across the UK.”
Peter Hartley, chairman of Nisa, said:“Todays 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.”
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