NISA has agreed a five-year deal worth up to £1bn to supply the group created by the sale of Morrisons’ 140 convenience stores.
My Local, which this week paid £25m for the M Local stores, described the deal as “essential” as it becomes one of Nisa’s major customers overnight. The chain was created by Mike Greene, who has been a leading figure in convenience stores for the last two decades, and the deal was backed by investment firm Greybull.
Scunthorpe-based Nisa will supply the chain as the My Local stores will join Nisa’s independent and specialist business unit.
“We know Mike and his team well and we are very excited to be working with them,” said Nick Read, chief executive of Nisa. “Nisa offers an unrivalled range of products, we out-perform the market on fresh food, particularly through our award winning Heritage range, and our distribution service leads the sector.
Mike Greene, chief executive of My Local, added: “This partnership is essential to the future of My Local and will form an important part of our plans to create a sustainable, profitable business for the future.”
My Local plans to improve the range, availability and layout of products in its stores and has committed to source at least 5% of its range from within 15 miles of any store.
The agreement will also enable My Local to improve product availability and frequency of supply, with deliveries into stores 6 days a week.
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