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COLES GROUP LIMITED. — M&A Activity 2023
Jul 19, 2023
64687_rns_2023-07-19_5c6004ce-a91c-4593-b4d0-eec0245ad510.pdf
M&A Activity
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20 July 2023
The Manager Company Announcements Office Australian Securities Exchange
Dear Sir or Madam
PROPOSED ACQUISITION OF TWO AUTOMATED MILK PROCESSING FACILITIES FROM SAPUTO DAIRY AUSTRALIA
Please find attached for immediate release to the market.
Yours faithfully,
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Daniella Pereira Company Secretary
Coles Group Limited ABN 11 004 089 936 800 Toorak Road Hawthorn East Victoria 3123 Australia PO Box 2000 Glen Iris Victoria 3146 Australia Telephone +61 3 9829 5111 www.colesgroup.com.au
20 July 2023
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PROPOSED ACQUISITION OF TWO AUTOMATED MILK PROCESSING FACILITIES FROM SAPUTO DAIRY AUSTRALIA
Coles Group Limited (Coles, ASX: COL) acknowledges the announcement by the Australian Competition and Consumer Commission (ACCC) today with respect to its Statement of Issues in relation to Coles’ proposed acquisition of two automated milk processing facilities from Saputo Dairy Australia.
Coles CEO, Leah Weckert, said: “We will continue to work constructively with the ACCC on these issues. From Coles’ perspective, we see no lessening of competition in any relevant market, noting that Coles already acquires approximately 80% of the volumes at the facilities and will provide milk processing services to Saputo Dairy Australia under a tolling arrangement. We remain confident that any outstanding concerns can be addressed so that the proposed transaction can proceed to completion.”
As Coles announced to the ASX on 3 April 2023, the proposed acquisition is subject to ACCC approval and other customary closing conditions.
This release was authorised to be given to the ASX by the Company Secretary.
For more information:
Investors
Anita Healy Mobile: + 61 411 109 108
Media
Jace Armstrong Mobile: +61 431 987 599 E-mail: [email protected]
Lisa Zimmet Mobile: +61 428 857 242 E-mail: [email protected]
Coles Group Limited ABN 11 004 089 936 800 Toorak Road Hawthorn East Victoria 3123 Australia PO Box 2000 Glen Iris Victoria 3146 Australia Telephone +61 3 9829 5111 www.colesgroup.com.au