Mullumbimby Action Group -> articles -> queanbeyan

ACCC Rejects a Supermarket Acquisition by Woolworths in Favour of an Independent

In an Historic Victory Over the Woolworths-Coles Duopoly. The ACCC has rejected a Supermarket Acquisition by Woolworths in Favour of an Independent.

On the26th of June 2008, the Australian Competition and Consumer Commission (ACCC) made an historic decision to announce their opposition to the Woolworths takeover of a retail outlet in Queanbeyan in New South Wales.

The ACCC has acknowledged that had Woolworths been allowed to buy the store in the Karabar Mall, “...it would be likely to substantially lessen the competition in the local retail supermarket “market” surrounding the store”. The ACCC further noted as reason for their position, “...if the acquisition had proceeded, Woolworths would have owned three of the four full-line supermarkets in the Queanbeyan area...”

Mr Scott Driscoll of the Retail Traders Association (QRTSA) went on to say,

"I have been aggressively arguing the case in the media and with government in recent months regarding the very real threat posed to genuine competition and downward pressure on prices, if the Coles-Woolworths duopoly are further allowed to lock out their independent retail competitors. After much angst and many a heated word, we have today seen the first sign that the message is getting through."

"I spoke privately this morning with Graeme Samuel, Chairman of the ACCC and expressed my strong support for the decision he has taken in this matter and have his assurance that the ACCC will now take a “more aggressive” approach to their role in this regard."

To listen to a Canberra radio interview Iby Mr Driscoll, please visit  www.qrtsa.com.au and click on the red MEDIA button at the top right of the front page.