Nisa set to be acquired by Big Four supermarket

Convenience retailer Nisa is set to be acquired by Big Four supermarket Sainsbury’s.

The two businesses are reportedly set to sign an exclusivity agreement in a deal which is set to rival the buyout of Booker by Tesco.

Though dwarfed by the £3.7bn Booker deal, the reported £130m acquisition marks the latest period of consolidation in the sector.

The Co-op and Morrisons were reportedly in the running for Scunthorpe-based Nisa, a £1.3bn turnover group, after it hired bankers to look at strategic options following the Tesco-Bookers takeover.

Currently the business, which operates 3,500 stores across the UK, has around 1,400 members hold 250 shares each, though many hold far less.

Sainsbury’s has reportedly been on the lookout for a convenience sector acquisition, with Palmer‎ & Harvey rumoured as a target.