Powered by momentummedia
nestegg logo
Powered by momentummedia
Powered by momentummedia
nestegg logo
nestegg logo

 

 

Invest

Wesfarmers one step closer to acquiring Catch

  • August 06 2019
  • Share

Invest

Wesfarmers one step closer to acquiring Catch

By Cameron Micallef
August 06 2019

Blue-chip conglomerate Wesfarmers has cleared another hurdle in its bid to acquire online retailer Catch Group as the ACCC announced that it will not oppose the transaction.

Wesfarmers

Wesfarmers one step closer to acquiring Catch

author image
  • August 06 2019
  • Share

Blue-chip conglomerate Wesfarmers has cleared another hurdle in its bid to acquire online retailer Catch Group as the ACCC announced that it will not oppose the transaction.

Wesfarmers

Wesfarmers, through its brands Kmart and Target, and online-based Catch both retail a variety of products to consumers, with the regulator reviewing both physical and online retail competition in providing its approval for the acquisition. 

According to ACCC commissioner Stephen Ridgeway, the size of the Catch company does not make it large enough for anti-competition issues.

“The current growth in online marketplaces is fostering competition between providers, and feedback indicated that Wesfarmers’ proposed acquisition of Catch would be unlikely to change that level of competition,” Mr Ridgeway explained.

The ACCC also noted that its regulators had cited differences in the two companies’ business models in arriving at the decision, with Mr Ridgeway highlighting that “stakeholders consistently told us that Catch and Wesfarmers are not close competitors, primarily due to the differences in their business models.”

Advertisement
Advertisement

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Wesfarmers one step closer to acquiring Catch
Wesfarmers
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article

About the author

author image

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

more on this topic

more on this topic

From the web

Recommended by Spike Native Network

More articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.