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Nisa completes £120m refinancing package

Nisa Retail has completed a refinancing of its debt facilities as it targets £2 billion in revenue by 2019.

FOOD & DRINK

Nisa completes £120m refinancing package

Nisa Retail has completed a refinancing of its debt facilities as it targets £2 billion in revenue by 2019.

The wholesaler and convenience retailer said the £120 million facilities provided jointly by HSBC and Wells Fargo will offe longer term, cheaper and more flexible capital for the business as it looks to invest in growth over the next three to five years.

With headquarters in Scunthorpe, Nisa Retail has a membership network of more than 3,000 convenience retail stores.

Nick Read, chief executive of Nisa Retail, said: “The retail market is quickly evolving and there is a real opportunity for the convenience sector to respond to the demands of today’s consumers. For Nisa, it is important that we continue to invest in the skills and capability of our business to support our member network, build a sustainable growth model and continue to deliver high standards of service.”

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