Australia’s largest supermarket operator, Woolworths, said at the weekend that it would consider acquiring Target from Coles Myer, if it was put up for sale.
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CEO Roger Corbett commented: “Some people are speculating that there might be a break-up of Target […] We would certainly look at any opportunities of that nature if it was to ever come on the market.”
Revealing that his group was showing stronger sales growth than expected, Corbett said Woolies is still eyeing acquisition targets in Australia. He predicted that selling household electronic items is likely to be a significant growth area for Woolies, not surprising given that Woolies owns electronic distributor Dick Smith and last year acquired Tandy Electronics.
