Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Foodstuffs’ Tactics Predictable


July 2, 2001

Foodstuffs’ Tactics Predictable

The Foodstuffs (Auckland) Limited decision to appeal last week’s High Court judgement that the Commerce Commission should apply the dominance test to Progressive’s application to acquire Woolworths New Zealand is “totally predictable” managing director of Progressive, Ted Van Arkel, said today.

Progressive Enterprises is owned by Perth-based Foodland Associated Limited and is seeking Commerce Commission approval to acquire Woolworths New Zealand.

“While this is a matter for the Courts to decide, it is totally predictable that Foodstuffs is continuing to obstruct our commercial interests,” he said. “They are running a litigation strategy in their attempt to block this acquisition because they know it will bring real competition into the New Zealand market.”

“Obviously they are concerned that a successful acquisition of Woolworths New Zealand by Progressive will bring increased competitive pressure to food retailing in New Zealand,” he said. “That competition will mean a reduction in prices for the New Zealand consumer.”

Foodstuffs has over 55 percent of total supermarket sales, Progressive 21 percent and Woolworths New Zealand 18 percent.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>