Sainsbury's Said To Be Close To Bidding For Nisa Convenience Group

Sainsbury's is poised to acquire convenience store chain Nisa with the latter close to signing a deal that bans it from seeking any other potential bidders.

Nisa has been working with investment bank Lazard on a sale process and is thought to have received interest from several prospective buyers, including the Co-Op.

Shares in Sainsbury's were 2.3% higher at 258.1p in morning trading, taking it to the top of the FTSE 100. The deal not only brought Sainsbury's more retail sites and helped it extend its presence beyond the grocery/supermarket sector, but also gave it access to Argos's fast delivery capabilities.

However, it is understood any deal is highly likely to face an investigation by Britain's competition regulator.

What does the Tesco-Booker merger mean for convenience stores?

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

News that Sainsbury's is mulling over a bid for Nisa follows the proposed £3.7bn takeover by Tesco of rival wholesaler Booker in January. A tie-up with Nisa could give Sainsbury's a significant boost for its Click and Collect network.

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