Shares in Australian grocery wholesaler Metcash soared today [Friday] as news broke that it had won a A$150m (US$85.3m) contract to supply Victoria’s Foodway business.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Foodway, which used to be supplied by Woolworth’s Australian Independent Wholesaler (AIW), merged with a major Metcash customer, and took a fresh look at all its supply contracts.
Woolworths is making a staged exit from wholesale said after AIW lost the FoodWorks contract in April to Metcash.
Metcash shares jumped eight cents or 3% to A$2.53 (US$1.43), on trading volumes of A$2.2m.
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
