Foodstuffs North Island vows to clean up its act

Author
Newstalk ZB,
Publish Date
Wed, 15 Sep 2021, 7:46AM
Photo / File
Photo / File

Foodstuffs North Island vows to clean up its act

Author
Newstalk ZB,
Publish Date
Wed, 15 Sep 2021, 7:46AM

Foodstuffs North Island is vowing to clean up its act.  

A Commerce Commission report's found anti-competitive behaviour and excess profits were some of the main issues with the grocery sector. 

In response, the supermarket chain which owns New World, Pak'nSave and Four Square, says it'll release their land covenants that stopped competitors setting up at certain locations.  

Chief Executive Chris Quin told Mike Hoking that practice has been in the industry for more than 20 years. 

"We recognise we could do better on that stuff, so we've basically committed that we will remove all of the historic caveats. We haven't used them for a while, and we won't going forward." 

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