ACCC calls for comment on Woolworths proposed acquisition of Karabar Supabarn

Posted by Editorial on 5th June 2008

The Australian Competition and Consumer Commission (ACCC) yesterday issued a Statement of Issues on the proposed acquisition of the Karabar Supabarn supermarket by Woolworths Limited.Woolworths proposed the takeover of the Queanbeyan Karabar Supabarn supermarket on April 7. The ACCC have since been researching the potential impact on competition with the Statement of Issues seeking further information on certain competition issues which have already arisen.

With Woolworths operating a large supermarket in central Queanbeyan, the ACCC is clearly concerned about the effect a takeover will have on competition in the area.

Further submissions from the market are sought by the ACCC before the 12th of June.

The proposed date for an official announcement on the proposal has been deferred until 25 June to allow for further submissions.