Metcash eyes pubs and pokies
July 25, 2012 09:21 AM
IGA operator Metcash Limited (ASX:MTS) is reportedly in the market to buy pubs and poker machines. According to media reports, the grocery wholesaler has hired a broker to source potential acquisitions, with up to $90 million believed to be allocated for bolt-on acquisitions. The news follows Metcash’s $375 million-plus equity raising to reduce debt and its recent investment into the automotive parts business. Metcash generated a full year net profit of $ 98.2 million.