Roger Corbett, CEO of Australia’s largest supermarket chain, has revealed that Woolworths will focus on ancillary-type businesses and existing markets for growth and acquisition in the near future.
Corbett said Woolworths would look at the Woolworths NZ chain, if owners Dairy Farm make it available.
Corbett added that he aims to strengthen the group’s wholesale division, AIW, against its main rival Metcash. One option could be a deal to incorporate stores from the struggling Franklins’ chain before selling or floating, or a possible merger or takeover with Foodland, based in Western Australia.
According to Corbett, certain areas of the wholesale sector lack competition, but he revealed that Woolworths would co-operate with a new inquiry by the Australian Competition and Consumer Commission. Commissioned by the Senate, the inquiry aims to investigate the prices that retailers pay to suppliers.