HONG KONG RETAILER TO SELL CHAIN IN AUSTRALIA

SYDNEY, Australia -- The long-expected carve-up of Australia's third-ranking supermarket chain, Franklins, was set in motion last week by its parent company, Hong Kong-based Dairy Farm International.Dairy Farm said the move follows completion of an extensive strategic review of Franklins, and it has decided to sell the largest segment of its 285 stores to independents, primarily through a strategic

SYDNEY, Australia -- The long-expected carve-up of Australia's third-ranking supermarket chain, Franklins, was set in motion last week by its parent company, Hong Kong-based Dairy Farm International.

Dairy Farm said the move follows completion of an extensive strategic review of Franklins, and it has decided to sell the largest segment of its 285 stores to independents, primarily through a strategic alliance with Metcash Trading (formerly Davids).

More than 60% of Franklins' s

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TAGS: Dairy