Independent supermarket chain Supabarn has today announced it will sell all but two of its ACT and NSW stores to supermarket giant Coles.
The sale will affect Supabarn’s Civic, Wanniassa, Kaleen and Crace stores, plus one under construction in Casey. Five stores in New South Wales will also be sold.
The sale is yet to be approved by the Australian Competition and Consumer Commission, but if it goes ahead, Coles will acquire the stores on a leasehold basis.
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Supabarn, which opened its first store in the Canberra City in 1991, has not exited the market completely. It will retain the soon-to-be constructed store at Kingston, as well as a store in Gymea in Sydney.
According to a company statement, Supabarn’s directors have decided to scale down for family reasons.
All Supabarn store employees will be offered the opportunity to continue to work at their store.
SupaExpress stores are not included in the sale and will continue to trade as normal.