Opinion

Did Foodstuffs get a Warehouse bargain?

Paul McBeth
Fri, 28 May 2021

The jewel in the Foodstuffs crown
Paul McBeth
Fri, 28 May 2021
Supermarket cooperative Foodstuffs finally pulled the pin on its 15-year stake in The Warehouse last week, cashing out at what appeared to be a gain of $50 million.If you cast your mind back to the mid-2000s, The Warehouse was toying with a grocery offering, bundling in booze and pharmaceuticals to boot.Public sentiment at the time was that the Red Sheds could provide a foil to the duopoly of Woolworths and Foodstuffs.However, The Warehouse was after a modest share of the grocery market. It saw more value from what it called a halo effect, wher...

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