Australian grocery wholesaler Metcash announced that it has reached a A$250m (US$209.7m) agreement to supply Foodworks today (3 September).
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In a presentation to investors, chairman Carlos Dos Santos revealed first-quarter sales were “in line” with expectations, while CEO Andrew Reitzer reiterated guidance of 7-10% EPS growth over the full year.
In a separate statement, Metcash revealed that it has struck a deal to supply the 45 supermarkets and eight liquor stores that Foodworks is acquiring from Coles.
“At the wholesale level it is expected that the new Foodworks stores will add an additional A$250m of sales to Metcash in the first full year of operation,” Metcash said.
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