"Coles" is for sale
From the BBC: "Australia's second largest retailer, Coles, has put the for sale sign above its business."
http://news.bbc.co.uk/1/hi/business/6389183.stm http://www.thewest.com.au/default.as...ontentID=22152 http://www.thewest.com.au/default.as...ontentID=22329 http://www.thewest.com.au/default.as...ontentID=22230 http://www.thewest.com.au/default.as...ontentID=22077 Gina |
Re: "Coles" is for sale
Originally Posted by GinaUK
(Post 4460390)
From the BBC: "Australia's second largest retailer, Coles, has put the for sale sign above its business."
http://news.bbc.co.uk/1/hi/business/6389183.stm Gina Mind you, their stores are shite so I really shouldnt have been suprised. |
Re: "Coles" is for sale
Wasn't aware of that Gina. Thanks.
Coles reminds us of Tescoes and is not shite in our opinion. I like K-Mart too. |
Re: "Coles" is for sale
Originally Posted by GinaUK
(Post 4460390)
From the BBC: "Australia's second largest retailer, Coles, has put the for sale sign above its business."
http://news.bbc.co.uk/1/hi/business/6389183.stm http://www.thewest.com.au/default.as...ontentID=22152 http://www.thewest.com.au/default.as...ontentID=22329 http://www.thewest.com.au/default.as...ontentID=22230 http://www.thewest.com.au/default.as...ontentID=22077 Gina |
Re: "Coles" is for sale
Originally Posted by GinaUK
(Post 4460390)
From the BBC: "Australia's second largest retailer, Coles, has put the for sale sign above its business."
http://news.bbc.co.uk/1/hi/business/6389183.stm http://www.thewest.com.au/default.as...ontentID=22152 http://www.thewest.com.au/default.as...ontentID=22329 http://www.thewest.com.au/default.as...ontentID=22230 http://www.thewest.com.au/default.as...ontentID=22077 Gina |
Re: "Coles" is for sale
The sharks have been circling Coles for quite some time, a consortium led by private equity firm KKR (U.S.) were thought to be behind an approach last year.
Local markets speculated on a range of possible buyers including Tesco, on which Coles models its business, and US giant Wal-Mart. |
Re: "Coles" is for sale
Originally Posted by windog
(Post 4460553)
Any body after a "buisiness visa"? seems there may be an oppourtunity:D
|
Re: "Coles" is for sale
Originally Posted by Womat
(Post 4460765)
If you've got a cool $15 billion to spare, go for it! :D
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Re: "Coles" is for sale
Originally Posted by Womat
(Post 4460759)
The sharks have been circling Coles for quite some time, a consortium led by private equity firm KKR (U.S.) were thought to be behind an approach last year.
Local markets speculated on a range of possible buyers including Tesco, on which Coles models its business, and US giant Wal-Mart. The thought of Tesco or Walmart entering Australia is positively horrific. I've seen the damage inflicted upon British farmers by the big supermarket chains and I don't want to see it repeated Down Under. :mad: |
Re: "Coles" is for sale
This mornings news - woolworths are being tipped to buy coles out. 2 food players has given us extortinate supermarket prices, WTF will food cost if we have just one.
Interesting to see if the australian consumer will put up some sort of fight, shezz right mate :eek: |
Re: "Coles" is for sale
Originally Posted by Vash the Stampede
(Post 4461120)
KKR were rebuffed, IIRC.
The thought of Tesco or Walmart entering Australia is positively horrific. I've seen the damage inflicted upon British farmers by the big supermarket chains and I don't want to see it repeated Down Under. :mad: I have a sense of déjà vu with this particular topic, Vash. I think we already established that supermarket profiteering is a global issue, Australia included. |
Re: "Coles" is for sale
Originally Posted by jad n rich
(Post 4462031)
This mornings news - woolworths are being tipped to buy coles out. 2 food players has given us extortinate supermarket prices, WTF will food cost if we have just one.
Interesting to see if the australian consumer will put up some sort of fight, shezz right mate :eek: |
Re: "Coles" is for sale
Originally Posted by Bix
(Post 4460422)
Wasn't aware of that Gina. Thanks.
Coles reminds us of Tescoes and is not shite in our opinion. I like K-Mart too. Coles is purposefully modeling itself on Tesco. They're not owned or otherwise affiliated with them, but heck, if there's a business model for making a lot of money out of people, Tesco have it and Coles want it. |
Re: "Coles" is for sale
Originally Posted by HiddenPaw
(Post 4462401)
What makes you think it's not already happening?
I have a sense of déjà vu with this particular topic, Vash. I think we already established that supermarket profiteering is a global issue, Australia included. Just look at Walmart's brutal tactics, for example; even Tesco isn't that savage (though it's trying hard) and there's certainly no Australian supermarket big enough or powerful enough to wreak havoc on the same scale. Comparing Tesco & Wal-Mart with Coles and Woolies is like comparing grizzly bears to feral cats. |
Re: "Coles" is for sale
Government legislation precludes a complete takeover by Woolworths, so that's obviously not going to happen.
Nevertheless, Woolies might persuade the ACCC to let them have one of the smaller Coles subsidiaries. |
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