Coles’ takeover of five Supabarn supermarkets in NSW and ACT has been approved by the competition watchdog after reducing the scale of its bid.
The Australian Competition and Consumer Commission gave Coles the green signal to acquire three ACT stores and two in NSW after the supermarket giant revised its initial bid to buy all nine of Supabarn’s stores.
The ACCC had been concerned that the deal would reduce competition but Supabarn will now continue to own four stores, as well as two ACT development sites.
“The deal has … been restructured in a way that removes the most problematic stores, as well as two other stores of lesser concern,” ACCC chairman Rod Sims said.
“It also retains Supabarn as a supermarket chain after the acquisition is completed.”
