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May 27, 2002

AUSTRALIA: Metcash eying overseas acquisitions

Australian grocery wholesaler MetCash Trading said it is mulling a new foreign acquisition over the next few months. Group CEO Andrew Reitzer told Channel Nine's Business Sunday programme: “We’ve done our homework, we have identified two countries, we are looking at various alternatives in those two countries and really in the next three or four months we should be in a position to announce something.”

Australian grocery wholesaler MetCash Trading said it is mulling a new foreign acquisition over the next few months.

Group CEO Andrew Reitzer told Channel Nine’s Business Sunday programme: “We’ve done our homework, we have identified two countries, we are looking at various alternatives in those two countries and really in the next three or four months we should be in a position to announce something.”

Reitzer said the company was looking to make in the short term that would deliver significant growth in three to four years’ time: “The lesson we have learnt is that […] you have got to stick to what you’re good at, so it (the acquisition) has got to be a wholesale distribution of groceries and liquor and (there are) not too many opportunities in Australia.”

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