BUNNINGS OK TO BUY BEAUMONT TILES
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 after an investigation found the move 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.
Bunnings has been buying up smaller specialist retailers to fill the gaps in its own hardware operations.
Beaumont Tiles will give it a stronger exposure to the tiling sector as well as other related building products segments.
“Our investigation found that Bunnings is not a strong competitor in tile sales,” said ACCC chairman Rod Sims.
“The ACCC’S decision not to oppose this deal is based on the specific circumstances and should not be read as any indication that the ACCC will reach the same conclusion in relation to future possible acquisitions by Bunnings.”