Food and grocery manufacturers in Australia have welcomed the prospect of new stability and certainty for retailer Coles Group Limited.
While the process of considering a new owner for Coles has inevitably caused some uncertainty across the entire industry, the announcement of the recommendation by the Coles board removes a considerable degree of uncertainty from the market.
“Comments by Wesfarmers, the buyer recommended by the Coles board to shareholders, indicate a commitment to be part of a secure, growing Australian food retail sector focused on serving consumers,” Australian Food and Grocery Council chief executive Dick Wells said.
According to Wells, consumers and those along the supply chain, including manufacturers and distributors, all benefit from a dynamic and competitive retail sector.
“Australians rely on the food and grocery chain to keep up the supply of quality products, well priced and consistently available on retail shelves,” Wells said.
“Food and grocery manufacturers will continue to work alongside all parties throughout the supply chain to keep delivering consistent, quality and competitive products to the Australian community.”