Metcash emerges as Coles player
Jun 6th 2007, 10:54 am
#1
Fighting my corner
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Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Metcash emerges as Coles player
Metcash has come forward as a potential new player in any carve-up of the Coles Group, with chief executive Andrew Reitzer openly expressing interest in the supermarkets.
Australia's biggest grocery wholesaler could add weight to a consortium prepared to compete with Wesfarmers or bid alone, should Coles decide to sell off the group in parts.
It was a key theme of yesterday's Metcash profit result, with investors punishing the company after it forecast single-digit growth this year, citing uncertainty over the Coles sale.
The company is the third force in Australia's grocery trade and while its name is largely unknown among shoppers, Metcash is expanding its presence through IGA supermarkets.
Looks like the Coles takeover is still on. No sign of a bid from Tesco, thankfully.
Jun 6th 2007, 2:16 pm
#2
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Joined: Mar 2006
Posts: 10,158
Re: Metcash emerges as Coles player
Metcash has come forward as a potential new player in any carve-up of the Coles Group, with chief executive Andrew Reitzer openly expressing interest in the supermarkets.
Australia's biggest grocery wholesaler could add weight to a consortium prepared to compete with Wesfarmers or bid alone, should Coles decide to sell off the group in parts.
It was a key theme of yesterday's Metcash profit result, with investors punishing the company after it forecast single-digit growth this year, citing uncertainty over the Coles sale.
The company is the third force in Australia's grocery trade and while its name is largely unknown among shoppers, Metcash is expanding its presence through IGA supermarkets.
Looks like the Coles takeover is still on. No sign of a bid from Tesco, thankfully.
About time there was some competition to Westfarmers.
