Bunnings Adelaide Tools Acquistion Pushed Back
The national watchdog has confirmed a delay in its provisional decision over the acquisition of Adelaide Tools by hardware retail giant Bunnings, stating more time was needed for deliberation.
Confirmed by the Australian Consumer Competition Commission, the provisional date has now been pushed back to 14 February.
Despite setting a date, the ACCC has not confirmed whether or not a final decision will be made on the 14th.
It comes as Australian retailers brace for the impact the Coronavirus could have on supply chains and international logistics.
As covered by ChannelNews, the watchdog began its investigation on 5 November to determine whether the acquisition has potentially breached its provisions i.e. the impact it will have on both retailers and consumers.
Despite the acquisition, Adelaide Tools director Rob Peach claims the acquisition indicates ‘a vote of confidence in the South Australian retail market’ as well as recognition for the 70-year-old business.
Bunnings managing director Mike Schneider said the goal of the acquisition was to gain ‘insight into the dynamics of the trade specialist market’ from Adelaide Tools.