Metcash has agreed to acquire the Peries Group, which runs 15 IGA supermarkets across Queensland, for an estimated A$80m–85m after exercising a contractual first right, the company said on 19 October.
Why Metcash Limited is buying Peries Group
Metcash said the deal is intended to protect, grow and strengthen the IGA network in Queensland, where retail and wholesale growth has outpaced most other states over the past three years. It will assess the long-term ownership structure of the stores, which may include divestments or joint ventures with independent operators.
“The Peries Group is a high-quality independent business, and its acquisition is consistent with our strategy of protecting, growing and strengthening the independent IGA grocery network.”
Deal terms and financing
The purchase price is calculated under a fixed formula based on an EBITDA multiple and will be funded from debt facilities. Metcash expects the acquisition to be marginally accretive to earnings per share.
Regulatory approvals and timing
Completion is subject to customary conditions including lease assignments and approval from the Australian Competition and Consumer Commission.
Market context
The Peries stores generated about A$264m in retail sales in FY26 and employ around 1,000 people. Metcash already holds 45% of the Queensland-based Cornetts Group, which operates 35 supermarkets.
