Nisa claims it has now recruited over 270 former Costcutter retailers since March 2012, worth over £100m.

During 2014 a total of 545 stores joined the group, with sales growing 5% year on year in the financial year to date.

Since September 2014 it has recruited 17 former Costcutters based in Northern Ireland.

Nisa attributes the growth to the development of the company’s own label Heritage range, a “sector leading” distribution service, a refined brand proposition for symbol businesses and “struggles experienced by competitor retail groups during 2014”.

“The retailers who are joining us, like our current members, value their independence but also realise that through Nisa they benefit from a strong, recognised brand, sector leading delivery levels, low cost of goods, a 13,000 strong range, an award winning own label brand and a great range of promotions which keeps them competitive in the market place,” said Nigel Gray, business unit director for symbol at Nisa.

Nisa recently announced that it had appointed former Tesco and Aldi director, Nick Read, as its new chief executive, who joins the company this month. Read replaces long-serving CEO Neil Turton, who is leaving the business after 23 years to join new venture HIM International.