Friday, 21 September 2012

Penrith. Threat to acquisition

The ACCC is threatening to block Woolworths’acquisition of an undeveloped supermarket site, at Glenmore Ridge. The commission’s preliminary view was that the proposed acquisition was likely to result in a substantial lessening of competition in the local market by preventing the entry of a rival supermarket. Woolworths already own an existing supermarket in the area. The new site would give Woolworths two stores in a market, which lacked other suitable supermarket sites. Aldi is planning to open a store in 2014.



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