Co-op and Nisa have welcomed the decision of the Competition and Markets Authority (CMA) to approve the Co-op’s acquisition of Nisa Retail Limited. The transaction remains subject to Court sanction of the Scheme on 4 May.
Nisa members voted in favour of the proposal in November 2017 and the deal is expected to complete on or around 8 May.
Sheldon Mills, senior director of mergers at the CMA, said: “After careful consideration, we’ve found that there is sufficient competition in both the wholesale and retail sectors to ensure that shoppers are not worse off.”
Commenting on the decision, Jo Whitfield, chief executive officer, Co-op Retail, commented: “We’re 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: “Today’s 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.”