Sainsbury's eyeing takeover of convenience store group Nisa

Cornelia Mascio
Giugno 19, 2017

Tesco's £3.7 billion swoop on wholesaler Booker is spurring Sainsbury's interest in convenience store chain Nisa, analysts said today.

However, Sainsbury's has resportedly offered a more attractive bid than the Co-op and Nisa is now set to sign an an exclusivity deal with the Big 4 retailer that temporarily bans it from pursuing other bidders.

However, it is understood Sainsbury's offer, at around £2,500 a share, was favoured by Nisa's board.

"Sainsbury's move into convenience shows the brand's determination to remain a key player in the market".

Meanwhile, the proposed Tesco-Booker merger is now under investigation by the Competition and Markets Authority.

Sainsbury's is thought to be homing in on a £130 million takeover of Nisa after the mutually owned business hired bankers to explore a sale which Shore Capital's Clive Black said is likely to have been inspired by the Tesco-Booker combination.

Tesco's merger with Booker, Amazon's foray into the sector with the acquisition of Whole Foods and the continued rise of Aldi and Lidl has put the supermarket sector in a state of flux. A tie-up with Nisa could give Sainsbury's a significant boost for its Click and Collect network.

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