The third largest grocer in Australia, Foodland Associated, is to appeal to the Privy Council over the acquisition plans of its NZ subsidiary Progressive Enterprises.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Progressive will appeal against a NZ Court of Appeal decision which last December overturned the clearance granted to Progressive to bid for Hong Kong-based Dairy Farm International’s subsidiary, Woolworths NZ.
The legal wrangling over the decision, which comes down to whether stricter new competition laws should be applied to acquisition or the former looser interpretation, has already cost Perth-based Foodland around A$3m (US$1.54m).
Foodland CEO and MD Trevor Coates revealed in a statement: “Should we be successful, we will approach Dairy Farm to once again establish their interest in disposing of Woolworths NZ”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
