Foodstuffs NZ supermarket retailer fined NZ$3.25m for impeding competition in North Island during early 2000s.

Foodstuffs NZ, a supermarket retailer, was fined NZ$3.25m for using land covenants to impede competition in the North Island during the early 2000s. The Commerce Commission had sought a $7.3bn penalty, but Justice Radich deemed this excessive. The Grocery Action Group (GAG) criticised the fine, asserting that lack of competition contributes to high grocery prices in NZ. The 2022 study of the supermarket sector found a lack of competition, high profits, and unfair pricing.

August 19, 2024
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