The Manchester based Co-op’s takeover of Nisa has been cleared by the Competition Market Authority.
The £137m deal was agreed by Nisa shareholders last autumn but can now go through after the regulator found that the two companies do not compete head-to-head and that the deal would not result in reduced quality of service or higher prices for customers.
Sheldon Mills, senior director of mergers at the CMA, said: “Millions of people throughout the UK shop at convenience stores and supermarkets, and it is vital that they continue to have enough choice to get the best value for them.
“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.”
Jo Whitfield, Chief Executive Officer, Co-op Retail, said:
“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.”
