Nisa appoints City firm to advise on restructuring

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Nisa Retail has appointed asset management firm Lazard to advise the organisation, increasing speculation that a business restructuring or full sale might be proposed to the membership in the near future.

Chief executive Nick Read’s three-year business plan for Nisa includes an aspiration to build scale in the business and take annual sales to £2bn. C-Store understands that the group’s board has received several approaches from other organisations in the industry in recent months, ranging from partnership proposals to a full takeover, and that Lazard would be able to provide expert advice in how to evaluate opportunities to restructure the group, such as via the addition of new shareholders within a joint venture.

Nisa is not commenting on the new arrangement, and any change in the ownership or shareholding structure of the mutual group would be subject to approval by members. Retailers can own up to a maximum of 250 shares in the group, although many own substantially fewer than this.

At the same time, the group is pursuing a refinancing package with bankers, designed to reflect the stronger financial position of the group since the previous facility was negotiated.

Readers' comments (6)

  • P&h, for sale,NISA going to be put up fpr sale.Who has the appetite to purchase these two and create a monster to rivalTESCO/BOOKER

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  • Bestway we're rumoured to have made a takeover approach in December, and McColls boss has said he is open to a deal for One-Stop should Tesco be required to dispose of anything interests by the CMA.

    With nothing further as yet for Sainsbury re: P&H but the latter still up for sale the rest of this year and going into 2018 is going to be very interesting to say the least.

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  • P&H struggles to be viable and is dependent on the Tesco contract. Difficult to see the upside for JS in any deal. The sale of Unichem, a similar organisation to Nisa, saw the devastation of the market share of independent pharmacies. Unless independents are prepared to look further than the end of next week and support Nisa the end is in sight for even the minuscule market share of independent grocery.

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  • Too little too late - unless it is Sainsburys or Co-op.
    Costcutter and Bestway can no longer compete with the brunt force of the Booker Tesco mean machine.

    Will the members let it happen? I doubt it.... will Nisa twindle away with rest (Costcutter/Bestway) with their weaker than Booker chilled and fresh range? and become 5th place with lower quality and higher prices than the rest? I hope not, but its likely.

    The membership and everyone else needs to understand that the market has changed and Nisa is no longer the big player it once was - join forces - and may the force be a good venture with an amazing chilled and fresh offer to match that of Tesco/Booker!

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  • If Sainsbury's get control of Nisa it will be a disaster for the survival of the Independent trade in the United Kingdom. With the Tesco/Booker merger and Sainsburys owning Nisa then we are all buggared.
    Nis has been sold down the river by the sheer incompetence and greed of its Executive. They saw a sale in the offing and have run our business into the ground. No stock, no own label, the whole thing is a disgrace. Never mind selling, we should remove these clowns and put in place a retail professional who can restore the damage that has been done, not only to the business but to Members morale.

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  • It’s perfectly clear that the rise of the German discounters Aldi & Lidl have created huge problems, not only for the mults but also the convenience sector and the only way we in sector can compete is scale. Consolidation has to happen and for me I very much welcome the Booker/Tesco merger. It will not only raise the bar on quality with Fresh & Chill but also force the sector to up its game. It would be delusional if any symbol group or its members thinks they can get the glory days of the past and offer more with less.

    The convenience sector has always evolved and will continue to evolve with new demands made customers with changing life style choices and emphasis on food to go playing a major role in our business. We know that the ambient grocery has been in decline for some time and injecting new categories can only be achieved through scale and scale only cost-effectively if we were to compete in the market place.

    Arjan Mehr Londis Bracknell

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