Metcash to buy Franklins supermarkets
(FOREIGN >> AUST) South African owned supermarket chain Franklins has been acquired by its wholesale supplier, Metcash Trading Ltd for $215 million. The sale is still pending approval from the ACCC.
Metcash will acquire 85 supermarkets (77 corporate outlets and supply to 8 franchises) with a view to selling them to independent IGA retailers. In the meantime, Metcash will operate the Franklins stores. [source]