My Local, the newly-created independent convenience store group from the Morrisons M Local sell-off, has agreed a five-year supply deal worth £1 billion with Nisa Retail to supply its chain of 140 stores across the UK.
My Local, the rebranded names for the former Morrisons M local shops which were reportedly sold for about £25m to a team led by retail entrepreneur Mike Greene and backed by Greybull Capital, will become one of Nisa's major customers.
Mike Greene, chief executive of My Local, said: 'We are delighted to have reached agreement with Nisa, the UK's leading specialist delivered wholesaler.
'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. We look forward to working with Nisa to deliver the fast, fresh service that our customers expect and we see great opportunities to drive benefit together.'
My Local stores will join Nisa's independent and specialist business unit, and will be supplied through Nisa's central distribution system, but with access to local and regional suppliers, allowing My Local to meet its commitment to source at least 5 per cent of its range from within ten to 15 miles of any store.
Nick Read, chief executive of Nisa, said: 'We know Mike and his team well and we are very excited to be working with them.
'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.'
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