Leading independent supermarket group, FoodWorks, continues to strengthen its presence across New South Wales (NSW), with FoodWorks Coonamble opening on schedule this week, and an additional three stores in this state secured to be operational soon.
The opening of FoodWorks Coonamble, bringing the FoodWorks Group’s total number of NSW stores to 57, with over 710 nationally, adds to the company’s recent success in internal capital raising, generating in excess of a targeted $10 million. According to the company, the Group’s recent achievements have provided tangible resources to strengthen their positioning in the competitive NSW market.
“The Australian supermarket industry is undergoing a significant restructuring with long-term changes, seeing one of the powerhouses crumbling and changing ownership, and the independents ready to surge and grow their market share,” FoodWorks national business development manager Simon Thompson said.
While the capital raised will go towards key growth initiatives that are yet to be finalised, the Group’s growth has already commenced, with 30 new stores from competitor brands joining FoodWorks over the past 12 months in addition to 16 new-to-industry stores. Plans to open a further 49 new stores over the next 12 months have been secured.