JB Hi-Fi has secured approval of the Australian Competition and Consumer Commission (ACCC) to acquire The Good Guys, a retailer of consumer electronics and kitchen appliances.
The approval was given as the ACCC found that the deal will not impact competition in the whitegoods retail market as these firms were focused on different product segments.
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The ACCC made this decision based on market feedback and other industry information.
ACCC chairman Rod Sims was quoted by the Sydney Morning Herald as saying: "Other retailers such as Harvey Norman have a much higher degree of overlap with The Good Guys than JB Hi-Fi.
"We considered that the combined company would continue to face strong competition from Harvey Norman and other existing retailers such as Betta, Retravision, Bing Lee and Radio Rentals."
See Also:
JB Hi-Fi sells products such as surround sound products, televisions, DVDs, CDs and Blu-ray discs through shopping centres.
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By GlobalDataThe Good Guys sells whitegoods and home appliances, through home retail centres.
JB Hi-Fi confirmed that it was holding talks to acquire The Good Guys in May.
