The ACCC will not oppose the proposed acquisition of
In
"Coles' acquisition of Jewel ensures that there will still be two major suppliers of chilled ready meals," ACCC Commissioner
"We are pleased that the administration process will end with Jewel's business continuing as a going concern and competing with other suppliers."
"The ACCC investigation focussed on whether other retailers would be foreclosed if Coles acquired the business. We found that Woolworths already has supply arrangements with Jewel's competitor,
Information available to the ACCC indicated that without a going concern sale to Coles, the next best alternative for Jewel's administrators would likely be liquidation of the assets.
"The continuation of Jewel's production of chilled ready meals is a better outcome for competition than liquidation of the assets,"
"The ACCC investigation commenced before the current increase in demand for groceries. However we consider our decision remains appropriate."
Further information is available at Coles -
Background
Jewel manufactures a range of branded and private-label chilled ready meals from its facility in Banksmeadow,
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(C) 2020 M2 COMMUNICATIONS, source