Today we’ve received great news that we’ve completed our acquisition of Nisa. This follows a successful vote last November by Nisa Partners who approved our offer to buy 100% of their shares in Nisa Retail Ltd (the wholesale business – not Nisa stores which remain independent).
This is a big part of our ambition for us to grow our presence in the UK convenience market, to create a stronger Co-op and stronger communities. This acquisition will give more customers the opportunity to buy our products from the shelves of Nisa stores and spread our Co-op difference into even more communities across the country.
What it means for Nisa
Nisa Partners, who own and operate the Nisa stores, will have the freedom to do what they do best – run independent convenience stores. We believe that, together, we can go from strength to strength, serving customers up and down the country and creating real value for our communities.
Today we’re also welcoming colleagues from Nisa who work to support these Partners. Ahead of the completion, where we’ve been able to, we’ve been working hard with these colleagues to ensure we hit the ground running.
Today, Nisa colleagues’ terms & conditions are the same as they were before completion but, to bring our Co-op difference to life, we’ve been developing ways to welcome Nisa colleagues to our family, immediately extending benefits such as Colleague Membership (and discount) and access to our Employee Assistance Programme.
Tomorrow we’ll be hosting a welcome event for Nisa colleagues at their offices in Scunthorpe, where we’ll tell them more about who we are, how we’ll work together and give them the chance to taste some of our fantastic own brand products.
To lead the new business, I’m also delighted to announce that we’ve appointed Ken Towle as Nisa CEO. Having previously held positions at Tesco, Ken joins Nisa from international franchise operator, Alshaya.
What it means for Co-op
This is the start of a new and exciting chapter for our Co-op. Working together to bring benefits that grow value for our members is a key part of Co-op’s Stronger Co-op, Stronger Communities plan; investing in new areas where we can serve our customers and members better.
And as we continue to grow our business for the future, and for all our communities, I look forward to sharing the journey with you. Thank you to all those who have worked so hard to make this happen.
CEO, Co-op Retail