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Foodstuffs merger would add to already dominant buyer power, New Zealand antitrust regulator says

By Saloni Sinha ( October 23, 2024, 06:20 GMT | Insight) -- The merger of Foodstuffs North Island and Foodstuffs South Island would have intensified an existing competition problem in the grocery-acquisition market by further increasing the existing buyer power that the two supermarket operators enjoy, the New Zealand antitrust agency has said. In a document published today detailing the full reasons for the rejection of the Foodstuffs deal on Oct. 1, the New Zealand Commerce Commission said that given the bargaining framework in the grocery-acquisition market, suppliers may already be selling their products at the lowest prices they’re willing to accept.The merger of Foodstuffs North Island and Foodstuffs South Island would have intensified an existing competition problem in the grocery-acquisition market by further increasing the existing buyer power that the two supermarket operators enjoy, the New Zealand antitrust agency has said....

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