ACCC Approves Woolworths' Acquisition of Beak & Johnston

The Australian Competition and Consumer Commission (ACCC) has approved Woolworths Group's proposed acquisition of Beak & Johnston Holdings, allowing Woolworths to increase its stake from 23% to full ownership of B&J’s subsidiaries, including operations in New Zealand. The ACCC determined that the acquisition is unlikely to significantly lessen competition, as rival ready meal suppliers will still have access to other distribution channels and retailers. ACCC Commissioner Dr. Philip Williams emphasized that competitors could effectively operate despite Woolworths' bargaining power, noting that various suppliers can distribute through supermarkets, convenience stores, and direct-to-consumer models. The acquisition will include brands such as Pitango and Artisano, but will exclude Beak & Johnston Pty Ltd, which will remain independent. The New Zealand Commerce Commission is also reviewing the acquisition, reflecting the ongoing scrutiny of market impacts. Overall, the ACCC concluded that the market for ready meals remains competitive with ample options for consumers.