Talks and negotiations have been going on for some time, but this week it looks like The Co-Op Group has been successful in mounting a takeover of the countries NISA Stores.
Britain’s Nisa Retail said on Saturday its chief executive had left the convenience retailer, which is in talks with the Co-operative Group to be taken over.
Nisa, which is owned by its independent retail members, said Nick Read had left with immediate effect but did not give a reason.
A source close to the negotiations with the Co-op said Read’s sudden departure “was not expected to impact the deal and exclusive talks are ongoing.”
Last month Britain’s second largest supermarket group Sainsbury’s suspended bid talks with Nisa, saying it needed a clearer idea of whether the competition regulator will approve takeovers in the fast-growing convenience sector. That opened the door for the Co-op.
How this is going to effect the (2) NISA Stores here in Whittlesey I am not sure, but at present our town does sustain the 1 small Co-Op + 1 Medium NISA + 1 Convenience NISA @ Victory Avenue….we wait and see….
Amazing that Sainsbury’s are ‘looking’ at take-overs at present – but pulled out of the chance to build a Supermarket here in Whittlesey – somewhat ironic I say…..
