PHOTO: NZ needs supermarket competition
A group of entrepreneurs wants to start a third supermarket chain to join the sector’s two-horse race.
The group is said to include 2Degrees founder Tex Edwards and is identified only as Northelia Version 1.4.
When it comes to supermarkets in New Zealand, there are really only two groups to choose from: Foodstuffs and Woolworths NZ.
But a new submission to the Commerce Commission reveals there could be a new cowboy in town.
“It’s encouraging to see that off the back of the Commerce Commission’s market study into the industry there are consortiums out there that would consider entering the market,” says Consumer NZ CEO Jon Duffy.
Northelia Version 1.4 describes itself as a group of experienced, done-it-before operating entrepreneurs who have worked in the supermarket industry.
The group members wished to remain anonymous, saying their executives, investors and board need “day jobs”.
But it’s reported 2Degrees founder Tex Edwards is among them and this isn’t his first rodeo.
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