AUSTRALIA: Pick 'n' Pay sees long term plans for acquisition in Australian grocery market
Having recently secured the A$125m (US$64.8m) purchase of 60 Franklin's stores during the beleaguered chain's carve-up, South African retailer Pick 'n' Pay has revealed plans to acquire more Australian food stores by the end of next year. CEO Sean Summers spoke of the company's long term plans yesterday, but stressed that the priority is on consolidating the chain of Franklin's stores it has acquired. Pick 'n' Pay has also picked up 20
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