ACCC green lights tile retailer to Bunnings
PERTH-based conglomerate Wesfarmers is set to add specialist retailer Beaumont Tiles to its stable of retail brands after the competition regulator gave the green light to its acquisition by hardware giant Bunnings.
The Australian Competition and Consumer Commission said on Thursday it would not oppose the acquisition of Beaumont Tiles by Bunnings, which is owned by Wesfarmers, after an investigation found the transaction was not likely to substantially lessen competition. It adds another chain to the Wesfarmers portfolio, after Bunnings also recently acquired Adelaide Tools, while Wesfarmers stablemate Officeworks bought tech support company Geeks2U.
“This is not a case of a close competitor buying up its rival,” said ACCC chairman Rod Sims.
However, the competition regulator cautioned Bunnings did not have the green light to keep buying up smaller specialist retail chains and each deal would be scrutinised.
Wesfarmers shares rose 0.8 per cent to $55.75 on Thursday.