Australia’s major supermarkets accused of purchasing properties to ‘turf out’ independent stores
Metcash, the owner of IGA and Foodland brands, tells Senate inquiry that ‘if they can’t buy the store, they try and buy the property’Get our morning and afternoon news emails, free app or daily news podcastThe head of the food division at Metcash, which owns the IGA and Foodland brands, has accused major supermarkets of paying inflated prices to buy out competitors, and purchasing properties to “turf out” independently owned stores at the end of their leases.Grant Ramage, the chief executive of Metcash Food, told a Senate inquiry on Thursday that the practices diminished the network of independent stores by removing successful businesses. Continue reading...
Metcash, the owner of IGA and Foodland brands, tells Senate inquiry that ‘if they can’t buy the store, they try and buy the property’
The head of the food division at Metcash, which owns the IGA and Foodland brands, has accused major supermarkets of paying inflated prices to buy out competitors, and purchasing properties to “turf out” independently owned stores at the end of their leases.
Grant Ramage, the chief executive of Metcash Food, told a Senate inquiry on Thursday that the practices diminished the network of independent stores by removing successful businesses. Continue reading...
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