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Court dismisses ACCC appeal of Franklins sale
Pick n Pay today, 30 November, welcomed the decision of the Full Court of the Federal Court of Australia dismissing the appeal by the Australian Competition and Consumer Commission against the sale of Franklins to Metcash. Legal costs were awarded to Pick n Pay.
The sale of Franklins to Metcash was completed on 30 September 2011.
The Chairman of Pick n Pay Gareth Ackerman said: "From the outset we have maintained that the sale of Franklins to Metcash is in the best possible interests of Australian consumers, shareholders and staff.
"We are obviously delighted that the court has ruled in our favour, and awarded us costs. From the outset we believed in the merits of our legal arguments. The successful conclusion of the legal process allows us to focus our resources on Pick n Pay's core market and our accelerated transformation process."
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