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Woolworths' bid to acquire City Kitchen sparks Australian antitrust probe

( November 4, 2024, 09:15 GMT | Official Statement) -- MLex Summary: Australian retailer Woolworths Group’s attempt to acquire Beak & Johnston Holdings, which trades as City Kitchen, has raised antitrust concerns for the country's competition regulator. In a market inquiries letter today, the Australian Competition & Consumer Commission said that City Kitchen, a frozen and chilled ready meals manufacturer, currently owns 77 percent of B&J City Kitchen and Alors Holdings while Woolworths owns 23 percent. City Kitchen is also the 100 percent owner of Beak & Johnson NZ. As Woolworths also sells frozen ready meals in its stores, the regulator is seeking feedback on whether the proposed acquisition would enable Woolworths to foreclose rival grocery retailers’ access to the supply of ready meals or rival ready meals suppliers’ access to other grocery retailers. The proposed acquisition would make Woolworths 100 percent owner of B&J City Kitchen and Alors Holdings. Woolworths would also indirectly own 100 percent of  Beak & Johnson NZ. The market inquiries letter is attached:...

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