Antitrust commissioner Dror Strum has approved the sale of supermarket Clubmarket to Supersol.
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Clubmarket, Israel’s third largest supermarket, was put up for sale after running up debts of 1.3bn shekels (US$288.88m). The highest bid, 825.5m shekels, came from Supersol, the largest chain in the country, hence the need for Strum’s approval. The major proviso was that Supersol sell 15 Clubmarket branches where they are in direct and only competitor to a Supersol store.
It was also agreed that Supersol cannot sell loss leaders — very popular or basic products known to draw customers sold at below-cost prices — at branches near smaller private competitors.
