The Australia Competition and Consumer Commission (ACCC) has released a statement announcing that it will not oppose the proposed acquisition by supermarket giant Woolworths, of three Supa IGA supermarkets.
The stores which are located in the Queensland areas of Banksai Beach (Bribie Island), Rasmussen (Townsville) and Riverside Gardens (Townsville).
ACCC Commissioner Dr Jill Walker said that the watchdog’s investigation found that the proposed acquisition would not result in a reduction of competition, nor would it be likely to impact on consumer choice.
“After a thorough investigation, the ACCC concluded that the proposed acquisitions would not result in a substantial lessening of competition in any market and are unlikely to reduce consumers’ choice or eliminate a vigorous competitor in the relevant local markets,” Walker said.
“Despite Woolworths’ increase in market share, it would remain constrained by other supermarkets in the local markets with different offerings.”
The ACCC stated that consumers would still have access to other Supa IGA stores in the surrounding areas.