ACCC in its media release confirmed that it would not oppose the proposed acquisition of Jewel Fine Foods (Jewel) by Chef Fresh Pty Ltd, which is a subsidiary company of Coles Group.
Since April 2019, Jewel Fine Foods was in voluntary administration & it produces various branded as well as private-label chilled ready foods.
Coles does not manufacture these products and is the major customer of Coles. The purchase of Jewel confirms that there would be two suppliers of chilled ready foods.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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