More than a year since announcing the deal on 1 July 2010, Metcash has completed its $215 million acquisition of Franklins supermarket chain from Pick n Pay Retailers.
At the time of the announcement, CEO Andrew Retizer at noted that consumers and independent retailers in NSW were the big winners and according to the company it retains this position.
“This remains the case today with the independent IGA network growing its market share in NSW from approximately 11 per cent to 17 per cent, thereby assisting its competitive position against the national chains,” the company said in a statement.
As part of its acquisition of 80 corporate-owned supermarkets plus supply to 10 franchised stores, Metcash plans to revitalise the IGA brand in NSW.
“Consumers can now look forward to the many benefits the stores will enjoy as a result of their alignment with Metcash and the national IGA network,” Metcash said.