NT News

ACCC green lights tile retailer to Bunnings

- ELI GREENBLAT

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.

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