Musgrave may face rival bid for Londis

MUSGRAVES ambitious 57 million takeover of the Londis operation in Britain may face a challenge from the rival Nisa-Today’s, a rival convenience store supplier group.

The proposed takeover has already been engulfed in controversy as shareholders in Londis are up in arms that top executives could pocket as much as half of the 57 million sale price agreed with the Musgrave Group, which operates the SuperValu and Centra franchises in Ireland.

Nisa, which styles itself as Britain’s largest buying group for independent retail and wholesale companies, is understood to be in the process of putting together a rival bid which will deliver more of the profits to the company’s 1,956 individual store owning shareholders.