The grocery wholesaler, Metcash, will be appearing in court today to try to overturn the decision by the Australian Competition and Consumer Commission (ACCC) to rule against its $215 million acquisition deal for 85 Franklin stores.
The ACCC’s decision to block the deal implies that the acquisition would leave Metcash we too much ownership of wholesale grocery market share. However, Metcash CEO, Andrew Reitzer has spoken out claiming that the ACCC should focus on the broader retail grocery market, specifically its dominance by the two big chains, who own 76%.
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