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Wesfarmers one step closer to acquiring Catch
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 one step closer to acquiring Catch
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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