Australian wholesaler and liquor retailer Metcash Trading is considering spending up to A$60m (US$33.42m) on acquisitions in the Asia-Pacific region.
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The group has already stated that it hopes to add A$1bn to its annual sales by 2004-5, a clear indicator of acquisition plans. Metcash is looking at two possible acquisitions in two different countries in the Asia-Pacific region, CEO Andrew Reitzer told the ABC’s Business Breakfast Programme.
“We’re down to two countries and an acquisition within each country – we’re busy weighing them up,” he said.
South-African-controlled Metcash report net profits worth A$57.7m for the twelve months to 30 April, a 76.5% rise on the previous year.
The group indicated in May that is was likely to announce a major international acquisition by the end of the summer.
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