Peak retail industry body the Australian Retailers Association (ARA) has welcomed the decision by the Ministerial Council on Consumer Affairs to consolidate nine consumer protection laws into one national law but is calling on the Government to provide education to retailers about the new legislation. ARA Executive Director Richard Evans said, while a national approach to consumer law is a step in the right direction, what the market really needs is education for retailers so they don’t unwittingly... ...Read more »
Reports of Murray Goulburn making a solo bid for Dairy Farmers early last week appear to be accurate, with the company asking for approval of a potential takeover of Dairy Farmers from the Australian Competition and Consumer Commission. Murray Goulburn was initially planning to make a joint bid with Parmalat, but the two companies could not come to terms on an appropriate deal. Negotiations between the two officially ceased a week and a half ago. The proposal by Murray Goulburn is for 100% of Dairy... ...Read more »
Parmalat has failed to reach an appropriate agreement with their proposed joint venture partner, Murray-Goulburn, as they seek to acquire Dairy Farmers. The two companies withdrew their application for ACCC clearance on Friday, with the Italian dairy giant citing an inability to come to a suitable arrangement as the reason for the decision. “Parmalat SpA communicates that no mutually satisfactory resolution on terms and conditions has been reached and consequently Parmalat has withdrawn from... ...Read more »
Cadbury has informed the Australian Competition and Consumer Commission (ACCC) that they are proposing to sell their beverage business in Australia. Rumours had been circulating for months that a sale was on the cards following the demerger of Cadbury-Schweppes in the US which left Australia as the only country where Cadbury’s confectionery and beverage units were combined. Coca-Cola Amatil (CCA) CEO Terry Davis has also fuelled rumours of a Schweppes sale by indicating CCA would be interested... ...Read more »
Kellogg’s Australia has announced that it is to acquire Specialty Cereals, an Australian cereal and snacks manufacturer - subject to regulatory approval. The world’s leading cereal maker has had a relationship with Specialty Cereals for two decades with regard to manufacturing and packaging, and view the acquisition as an opportunity to expand their ‘health and wellness’ and ‘natural’ product lines. Specialty Cereals was founded in 1988 and was one of the first... ...Read more »
Gippsland livestock farmers are disenchanted in the wake of the Australian Competition and Consumer Commission’s (ACCC) decision that insufficient evidence was found to further the investigation into collusion at the Koonwarra Saleyards. In January 2008, action by processors and buyers resulted in the saleyards changing from presale weighing to post sale weighing. Victorian Farmers Federation (VFF) Livestock Group President Ailsa Fox said that the ACCC’s decision was disappointing and... ...Read more »
The GROCERYchoice website continues to come under attack, with independent supermarkets, the Federal Opposition and leading retail industry bodies all indicating a lack of support for the scheme. The site, which highlights to consumers the cost of certain baskets of goods at different grocery chains in their area, has been criticised as a “stunt”, “unfair” and too “broad” by some sections, but the Federal Government continues to defend the website. As a host of... ...Read more »
The ACCC report into the state of competition in the grocery sector was released to mixed reactions yesterday. Federal Government “I believe that our action plan, combined with the broader reforms that are already in train to further strengthen competition policy, such as the amendments to the misuse of market power provision and the criminalisation of serious cartel conduct, will ensure that the grocery market remains competitive,” the Assistant Treasurer, Chris Bowen, said. “The introduction... ...Read more »
The ACCC report into the state of competition in the grocery industry has been released, with a number of recommendations mooted to improve competition. It should be noted, however, that the ACCC believe the issue of food inflation may have been overstated in some quarters. Australian Food News reports on the ACCC’s response to the major issues raised during the Inquiry. In General - Key Findings The ACCC suggest that the current nature of grocery retailing in Australia is “workably... ...Read more »
The Rudd Government today released its preliminary action plan in response to the Report of the ACCC inquiry into ‘the competitiveness of retail prices for standard groceries’. The Report reveals there is real reform to be had in Australia’s grocery sector, according to the Government. Despite the Report establishing that “grocery retailing is workably competitive” it also highlighted a number of factors that currently limit the level of competition including “the... ...Read more »