Home > Brands > ACCC > Bunnings Adelaide Tools Acquistion Pushed Back

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.

You may also like
Despite Big Growth Bunnings Refuses To Rule Out JobKeeper Money After Woolworths Bail
Wesfarmers Calls For Reform To Beat Oz Recession
S&P Delivers Positive Report For Wesfarmers Retail Stores
ACCC Grants Metcash Majority Stake Purchase In Total Tools
Bunnings & Officeworks Earnings Up 13%, Kmart Group Slumps