Accc Ruling on Supermarket Ownership Welcome

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10 March 2016 ACCC RULING ON SUPERMARKET OWNERSHIP WELCOME Canberra Business Chamber welcomes today’s announcement by the Australian Competition and Consumer Commission that it will not oppose Coles’ proposed acquisition of five Supabarn supermarkets. “The Chamber supports competition in the Canberra market for the good of consumers and our economy. We do not think this sale will diminish competition,” Canberra Business Chamber CEO, Robyn Hendry said. “Canberra is growing and with this growth comes new businesses and increased choice. This is particularly occurring in the grocery sector with the increase in Aldi stores across our city and the opening of a Costco to serve the region. “Our city has reached its current maturity based on the contribution of many local families who have built successful businesses from the ground up. “It is essential these businesses owners are in a position to exit their businesses when generational change means they need to make alternative arrangements for their assets. For example, if children have decided they want to pursue a different career path from their parents and there is no-one able to carry the business forward, then families need to be able to sell their business. “We are pleased this decision supports local business owners being able to move forward with their lives and sell their businesses when they need to. “Supabarn owner, Eric Koundouris is a highly respected leader in the Canberra business community and a long standing member of the Canberra Business Council and now the Chamber. We wish the Koundouris family all the best with their future plans.” Media Contact: Robyn Hendry, CEO Canberra Business Chamber 0418 462 151 .

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1 Background
1 Background 1.1 Introduction There has been significant public concern regarding the competitiveness of retail prices in the grocery industry in Australia and the pricing of household grocery products. In particular there is concern that Australia has a highly concentrated grocery industry, and while inflation has been low in Australia over the last few years, grocery food prices have increased at a significantly higher rate than the headline inflation rate. In response to these concerns, the Assistant Treasurer and Minister for Competition Policy and Consumers Affairs wrote to the Australian Competition and Consumer Commission (ACCC) on 22 January 2008, directing the ACCC to hold a public inquiry under Part VIIA of the Trade Practices Act 1974 (the Act) into the competitiveness of retail prices for standard groceries. A copy of this letter is at appendix A. 1.2 Terms of reference The instrument attached to the Assistant Treasurer and Minister for Competition Policy and Consumers Affairs’ letter stated: I, Chris Bowen, Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, pursuant to section 95H(2) the Trade Practices Act 1974, hereby require the Australian Competition and Consumer Commission to hold an inquiry into the competitiveness of retail prices for standard groceries. Matters to be taken into consideration by the inquiry shall include, but not be restricted to: • the current structure of the grocery industry at the supply, wholesale and retail levels including mergers and acquisitions by the national retailers
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