Franchise convenience store chain Nisa has announced today that it has secured £100 million in funding from finance partner Barclays Bank as it continues to focus on growth.
As part of its future plans, the member owned retailer has set its sights on store refits, branding initiatives and product margin investment and assistance from the bank will allow these to be realised.
Graham Holland, Barclays’ Relationship Director explained the importance of the retailer’s continued development.
“Nisa’s business activities reach out into the very heartland of Britain as a nation of independent entrepreneurs,” he said.
“The last four years have been a dynamic time for Nisa with significant growth despite the economic and market conditions.
“The management team impressed us with their strategic growth plans and we were able to agree a multi- product solution which will assist them in their next phase of development.”
Over the past five years, turnover at the Scunthorpe-based retailer has increased 50 per cent to £1.5 billion and it is hoped that the investment will aid independent retailers’ standing in the increasingly competitive food & drink markets.
“We’ve completely overhauled the funding structure to reflect and support the significant growth that the business has experienced over the last five years,” said Nisa Retail Finance Director Simon Webster.
“The new funding from Barclays will allow us to plan future growth with confidence and provide the flexibility with the potential to actually reduce our associated funding costs.”