Nisa will more than fill the £500m sales gap left following the departure of Costcutter, CEO Neil Turton has declared.

In a bullish speech to members and suppliers at the retail buying group’s annual exhibition and awards, held in Stoneleigh Park, Warwickshire, this week, Turton said the “future was bright” for Nisa, despite losing its biggest member.

“The elephant in the room is not that big. We will fill that gap and more,” he said. “We will continue to grow and we have a five-year plan, which is a simple strategy to get new customers, sell more to existing members and, in turn, sell more to consumers.”

He also urged members to buy more from Nisa instead of turning to other sources such as cash & carries. “If members use us more we could gain an additional £300m in sales so it’s a big prize if we get members fully locked in to what we own,” he said.

Turton reiterated that he was disappointed Costcutter had chosen to leave, and described its plan to enter a buying alliance with Palmer & Harvey as “flawed”. “We had a buying concept in 2004 but it was disbanded,” he said, adding that he did not know of any buying alliance in the sector that had been successful.

“The future is now in our own hands,” Turton added. “We’re going to have more members coming on board this year, we’re going to continue to grow and the message is positive. The future is cleaner and clearer.”

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