9th Nov 2016 14:27
LONDON (Alliance News) - McColl's Retail Group PLC Wednesday said it has inked a new supply contract with Nisa Retail Ltd, under which Nisa will supply the 298 store portfolio which McColl's acquired in a deal from the Co-operative Group.
Subject to clearance from the UK's Competition and Markets Authority, Nisa will begin supplying the first of the new stores in January 2017, followed by a rapid rollout which will see all of the new store portfolio transitioned by June 2017.
"I am pleased to announce that we have awarded Nisa the supply contract for our newly acquired portfolio of convenience stores. Nisa's quality fresh and chilled food supply strongly complements our ongoing expansion in the convenience sector, and will enable us to provide our new customers with a full range of high quality products at competitive prices," said Chief Executive Officer of McColl's Jonathan Miller in a statement.
Shares in McColl's were up 0.6% at 174.24 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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