Metcash Limited (ASX:MTS) may find out this week if it can acquire Franklins supermarkets. If given the green light, it plans to sell more than 80 stores to independent retailers within several months.
The Australian Competition and Consumer Commission has tried to get the federal court to block the acquisition, claiming it would lessen competition in the wholesale supply of groceries to independent supermarkets.
But Metcash’s chief executive, Andrew Reitzer, told Fairfax he is confident Metcash will win approval for the $215 million acquisition.
In the six months to April 30 this year, Metcash (ASX:MTS) reported a profit of $250.8 million.
