Metcash exercises right to acquire Peries Group
- Metcash entered a binding agreement to acquire the Queensland-based Peries Group.
- The Peries Group generated approximately $264 million in retail sales and recorded $150 million in wholesale purchases from Metcash in FY26.
- Metcash aims to secure and expand its IGA supermarket network across regional Queensland markets.
Metcash (ASX:MTS) has exercised its contractual right to acquire Queensland food business Peries Group after receiving a First Rights Notice.
The acquisition builds on an existing relationship where Peries Group generated $264 million in retail sales in FY26, while Metcash supplied $150 million in wholesale sales to the group over the same period.
The transaction follows Peries Group's formal decision to sell its business, triggering Metcash's immediate contractual right to execute a binding business sale agreement.
The deal includes 15 medium and large-format IGA supermarkets across Queensland, which employ approximately 1,000 staff members.
Metcash stated that the acquisition is expected to help protect, grow, and strengthen the IGA network across Queensland.
Following the announcement, the Metcash share price was up at $3.16.
The company currently holds a 45% stake in the Queensland-based Cornetts Group, which operates 35 supermarkets.
Metcash plans to evaluate long-term ownership options for the acquired stores, including potential divestments or joint ventures with independent operators.
