Members of Nisa-Today’s, the UK retail and wholesale co-operative, have voted to separate the business into two entities.
The vote took place before the company’s AGM in Broughton, North Lincolnshire, last week and an “overwhelming majority” were in favour of the split, which is now likely to take place in the first quarter of 2012.
A NISA-Today’s spokesperson said: “The transaction was first proposed as the marketplace in which both Nisa and Today’s operate has developed somewhat since the Today’s Group was first formed in 1987 and it became clear that Today’s wholesale has very different future needs to those of Nisa retail. The separation will allow both companies to tailor their individual strategies and change their resources and direction for the future success of both companies.”
However, the statement also said that the split does not mean the two companies will end their existing relationship.