Foodstuffs welcomes High Court ruling

Foodstuffs welcomes High Court ruling

Managing Director of Foodstuffs NZ Limited Tony Carter says he welcomes today’s High Court decision that overturned the Commerce Commission’s ruling against its application for clearance to acquire up to 100 percent of The Warehouse.

He says Foodstuffs has always held the view that there is not a lot of overlap between the operations of Foodstuffs and The Warehouse.

Mr Carter says Foodstuffs has a number of options available.

“We will be talking to our advisers in the first instance. Any moves from ourselves or Woolworths, or any other potential party, will take time to run their course so our position will be a measured one.”

Mr Carter says Foodstuffs continues to hold the view that as New Zealand owned and operated companies Foodstuffs and The Warehouse have common synergies and culture.

“Two iconic Kiwi companies like The Warehouse and Foodstuffs joining forces in some sort of combination could only be to the benefit of all New Zealanders,” says Mr Carter.

“It’s about leveraging the strengths of the two companies,” says Mr Carter.

ENDS

© Scoop Media