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Australia: ACCC to block Woolworth’s acquisition of Ballarat hardware stores

By  |  October 5, 2012
Australia: ACCC to block Woolworth’s acquisition of Ballarat hardware stores

The competition regulator has opposed Woolworths’ proposed acquisition of an independent chain of three hardware stores owned by G Gay & Co in Ballarat, Victoria. The proposed acquisition is likely to result in a lessening of competition through the removal of Woolworths’ two closest competitors in the Ballarat area. Rod Sims, the chairman of the ACCC said that decision to oppose the acquisition was part of the watchdog’s more localized approach to competition regulation, especially due to large number of local acquisitions by the major supermarket chains.

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