Source: The Austrailan

Story by: John Durie

METCASH has decided to take control of the disputed Franklins stores ahead of next month's ACCC appeal, having completed the deal this morning.

The $215 million acquisition will boost its wholesale share in New South Wales from 11 per cent to 17 per cent, and add about $500m in sales and $30m in earnings before interest and tax.

Metcash plans to immediately sell the 80 stores in question to independents who will become wholesale customers.

This move will complicate the next move by the Australian Competition and Consumer Commission, should it win the coming appeal before the full Federal Court.

To read the full story, follow this link: http://www.theaustralian.com.au/business/companies/metcash-to-take-control-of-franklins-stores-before-accc-appeal-is-heard/story-fn91v9q3-1226153962594