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Wesfarmers one step closer to acquiring Catch

By Cameron Micallef · August 06 2019
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Invest

Wesfarmers one step closer to acquiring Catch

By Cameron Micallef
August 06 2019
Reading:
egg
egg
egg
Wesfarmers

Wesfarmers one step closer to acquiring Catch

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By Cameron Micallef · August 06 2019
Reading:
egg
egg
egg
Wesfarmers

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, 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.”

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Wesfarmers one step closer to acquiring Catch
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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.

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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.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

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