The Australian Competition and Consumer Commission says is won’t oppose Woolworths’ purchase of Hudson Building Supplies.
Australia’s competition watchdog has cleared the way for Woolworths’ purchase of building supplies business Hudson.
The Australian Competition and Consumer Commission says it won’t oppose the $20 million acquisition of Hudson Building Supplies, which operates a chain of stores in New South Wales and Queensland.
It said the acquisition was unlikely to hurt competition substantially, despite the rapid expansion of Woolworths’ home improvement division Masters.
“The ACCC concluded that the proposed acquisition would not be likely to substantially lessen competition in any local market for the retail supply of building supplies, hardware and home improvement products,” chairman Rod Sims said.
It said Hudson’s main business was delivering materials to building sites and there would be limited overlap with Masters.
Woolworths and its US-based joint venture partner Lowe’s Companies have agreed to buy Hudson from New Zealand’s Fletcher Building.