Dairy Farm undecided to sell yet

- Last updated on GMT

Related tags: New zealand, Grocery store

Hong Kong-based Dairy Farm International Holdings announced on June
28 that it would await the possible shakeout from a High Court of
New Zealand...

Hong Kong-based Dairy Farm International Holdings announced on June 28 that it would await the possible shakeout from a High Court of New Zealand ruling before deciding whether to sell its local supermarket operations. "We've made no decision to sell at all,"​ said Dairy Farm finance director Simon Mawson. According to Mawson, the group has received expressions of interest from Australian grocers Foodland Associated Ltd and Woolworths Ltd, which is not related to Woolworths NZ. Both companies have recently bought stores from Dairy Farm's loss-making Australian supermarket chain Franklins. On June 27, a High Court of New Zealand decision on competition rules cleared the way for Foodland's Progressive Enterprises, which has 25 per cent of the New Zealand grocery market, to bid for Woolworths NZ. Mawson said the company would not make any decisions on until all appeals had been exhausted. "We will have to look at those in the cold light of day,"​ he said. Source: Reuters

Related topics: Market Trends

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