Friday, 2 July 2010

Region. Franklins stores sold

Food wholesaler Metcash, supplier to IGA supermarkets will acquire the 85 Franklins supermarkets in NSW – 30 of which are in Western Sydney – to improve to improve its competitive position against the major supermarket chains. Metcash, based at Macquarie Park, has made an agreement with the South African company Pick n Pay, which currently owns the Franklins business, to buy the supermarket chain for $215 million. The market share of Metcash supplied retailers in the state from will increase from 11 per cent to 17 per cent. Regulatory approval will be required.