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


Clearance Will Put Heat On Supermarket Competition

Clearance Will Put Heat On Supermarket Competition

Today’s Commerce Commission clearance for Progressive Enterprises to acquire Woolworths New Zealand Ltd will bring increased competition on prices for New Zealand supermarket shoppers according to Progressive’s Managing Director, Ted van Arkel.

The proposed acquisition would mean a combined market share of 45 percent for Progressive/Woolworths pitted against Foodstuffs’ 55 percent.

“If we succeed with the acquisition we will be able to compete with Foodstuffs on a much stronger footing,” he said. “It is the consumer who will ultimately benefit as we will be able to increase our buying power and operating efficiencies which will be able to be passed onto our customers.”

Mr van Arkel said the company would continue discussions with JP Morgan, the advisors to Dairy Farm International Holdings Limited, the owners of Woolworths New Zealand Ltd.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Hospitality NZ: Hospitality Wages Jump 9% To Pass Living Wage
Wages and salaries across the hospitality sector continue to increase despite businesses having to battle through some of the toughest trading periods in living memory... More>>

Climate Leaders Coalition: Launches New Statement Of Ambition, Appoints New CEO Convenor

The Climate Leaders Coalition is tonight officially launching a new Statement of Ambition to accelerate business action on climate change... More>>

Retail: New Law Paves Way For Greater Supermarket Competition

Legislation that bans major supermarkets from blocking their competitors’ access to land to set up new stores paves the way for greater competition in the sector, Minister of Commerce and Consumer Affairs Dr David Clark said... More>>

MYOB: New Data Shows Increase In SMEs Experiencing Stress And Anxiety

The lingering impacts of the COVID-19 pandemic have led to a surge in the number of local SME owners and operators experiencing stress and anxiety, according to new research from business management platform, MYOB... More>>

Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>