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Cision Canada
02-06-2025
- Business
- Cision Canada
IsoEnergy Announces Launch of At-The-Market Equity Program
TORONTO, June 2, 2025 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (NYSE American: ISOU) (TSX: ISO) is pleased to announce that it has entered into an equity distribution agreement (the " Distribution Agreement") with Virtu Canada Corp. (the " Canadian Agent") and Virtu Americas LLC (together with the Canadian Agent, the " Agents"). Pursuant to the Distribution Agreement, the Company may distribute up to C$75,000,000 (or its equivalent in other currencies) of common shares in the capital of the Company (the " Common Shares"), from time to time through the Agents (the " ATM Program"). Philip Williams, CEO and Director of IsoEnergy, commented, "With our NYSE American listing completed on May 5, 2025, the launch of our ATM Program is both timely and aligned with practices across our peer group, many of whom have similar programs in place. Backed by a strong cash balance of C$46.1 million and marketable securities of C$35.1 million as of March 31, 2025, we believe that the Company is in a solid financial position to execute its 2025 work programs. We intend to use the ATM Program prudently, accessing it when market conditions and liquidity are favourable. Ultimately, it provides an additional financing tool, enhancing our financial flexibility moving forward." Any Common Shares sold through the ATM Program will be sold (i) through ordinary brokers' transactions on the NYSE American LLC (the " NYSE American") or another U.S. "marketplace", as such term is defined in National Instrument 21-101 – Marketplace Operation (" NI 21-101"), (ii) through ordinary brokers' transactions on the Toronto Stock Exchange (the " TSX") that constitute "at-the-market distributions" as defined in National Instrument 44-102 – Shelf Distributions, (iii) on another Canadian "marketplace", as such term is defined in NI 21-101, upon which the Common Shares are listed, quoted or otherwise traded, or (iv) otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The volume and timing of sales under the ATM Program, if any, will be determined at the Company's sole discretion and in accordance with the terms of the Distribution Agreement. The TSX has conditionally approved the listing of the Common Shares that may be issued under the ATM Program, and the Company has applied for authorization from the NYSE American for the listing of such Common Shares. The Company is not obligated to make any sales of Common Shares under the ATM Program. The ATM Program will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program and the date that the ATM Program is otherwise terminated pursuant to the terms of the Distribution Agreement. The Company intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, which may include funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness, technical studies and exploration in the United States and Australia and additions to working capital. The ATM Program is being established pursuant to a prospectus supplement dated May 30, 2025 (the " Canadian Prospectus Supplement") to the Company's short form base shelf prospectus dated September 5, 2024, as amended on May 8, 2025 (the " Base Shelf Prospectus"), as filed with the securities regulatory authorities in each of the provinces and territories of Canada, and pursuant to a prospectus supplement dated May 30, 2025 (the " U.S. Prospectus Supplement") to the Company's U.S. base prospectus included in its registration statement on Form F-10 (the " Registration Statement") and filed with the U.S. Securities and Exchange Commission (the " SEC") on May 13, 2025. The Company has filed the Registration Statement (including the U.S. base shelf prospectus) and the U.S. Prospectus Supplement to which this communication relates with the SEC. Before you invest, you should read the Registration Statement, the U.S. Prospectus Supplement and other documents the issuer has filed with the SEC, as well as the corresponding documents filed in Canada, for more complete information about the Company and this offering. The Canadian Prospectus Supplement and Base Shelf Prospectus may be downloaded for free from SEDAR+ at and the U.S. Prospectus Supplement and the Registration Statement are accessible for free via EDGAR on the SEC website at Alternatively, the Company will send you copies of such documents upon request made to the Company contact provided below, and the Agents will send copies of such documents to investors upon request by contacting Virtu Canada Corp. at 1720 – 222 Bay Street, Toronto, ON M5K 1B7, by email at [email protected], or by telephone at (646) 682-6322 or by contacting Virtu Americas LLC at 41 st Floor – 1633 Broadway, New York, NY 10019 United States, by email at [email protected], or by telephone at (646) 682-6322. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction. No securities regulatory authority has either approved or disapproved of the contents of this press release. About IsoEnergy Ltd. IsoEnergy (NYSE American: ISOU andTSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of U.S. securities laws (collectively, "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements may relate to the anticipated sale and distribution of Common Shares under the ATM Program; the volume and timing of the sale and distribution of Common Shares under the ATM Program; the expected uses of the net proceeds from the ATM Program; the Company's properties, including expectations with respect to the advancement of the Company's properties; the Company's ability to execute on its 2025 work programs; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the results of planned exploration and development activities are as anticipated; the anticipated mineralization of IsoEnergy's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; t hat financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry; and general economic and political conditions in Canada, the United States and other jurisdictions where the Company conducts business. Other factors which could materially affect such forward-looking statements are described in the risk factors in IsoEnergy's most recent annual management's discussion and analysis and annual information form and IsoEnergy's other filings with securities regulators which are available under the Company's profile on SEDAR+ at and on EDGAR at IsoEnergy does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. SOURCE IsoEnergy Ltd.
Cision Canada
27-05-2025
- Business
- Cision Canada
IsoEnergy Advances U.S. Uranium Mines Toward Potential Production
TORONTO, May 27, 2025 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (NYSE American: ISOU) (TSX: ISO) is pleased to announce the commencement of key work programs at its Tony M Mine, one of its three fully permitted uranium mines in the United States, intended to support a potential near term restart decision which could establish the Company as one of a select group of U.S. uranium producers. The Company has initiated several work programs at the Tony M Mine that are expected to optimize operational readiness and reduce future production costs, while maintaining strategic flexibility to potentially restart operations quickly as market conditions continue to improve. With all required permits in place, fully developed infrastructure, and a toll milling agreement with Energy Fuels Inc. at the nearby and fully operational White Mesa Mill, the Company is well positioned to bring Tony M, as well as the Rim and Daneros Mines, back into production on an accelerated timeline. Highlights Technical Studies Underway at Tony M Mine focused on optimizing mine operations, reducing costs, and accelerating restart timelines, including: Ore Sorting and High-Pressure Slurry Ablation (HPSA) Testing - Bulk pilot programs launched to evaluate high-efficiency material processing and reduce haulage and operating costs. Enhanced Evaporation Study - Aims to reduce capital costs and accelerate dewatering by increasing evaporation rates at existing pond infrastructure. All major mining permits in place across Tony M, Daneros, and Rim Mines, providing a significant regulatory advantage and flexibility to restart quickly. Toll Milling Agreement with Energy Fuels Inc. at the nearby, fully operational White Mesa Mill. Strong tailwinds from U.S. nuclear policy believed to underscore the strategic importance of domestic uranium production. Potential production decision anticipated in 2025, following results from ongoing technical and economic evaluations. Philip Williams, CEO and Director of IsoEnergy commented, "Momentum is accelerating across the U.S. nuclear industry, yet a significant gap remains between domestic uranium supply and growing demand. We believe IsoEnergy is uniquely positioned to help close this gap with a portfolio of past-producing uranium mines and a large-scale development project in the United States. Leading the way is the Tony M Mine in Utah, a past producer that was reopened and rehabilitated in 2024. With all key operating permits in place and a toll milling agreement secured with the White Mesa Mill, Tony M is the most advanced and de-risked uranium asset in our U.S. portfolio. As we move forward, our focus is on optimizing project economics through a series of technical studies. These efforts will inform a potential production decision, targeted for later this year, aligning IsoEnergy's near-, mid-, and long-term strategy with the urgent need for secure, domestic uranium supply." Advancing Operational Readiness at Tony M Mine The 2025 work program at Tony M includes advancing ore sorting and enhanced evaporation studies, as well as evaluating multiple mining methods to optimize future production scenarios. The Company is also preparing for technical and economic assessments that could form the basis for a restart plan. Importantly, Tony M has been fully rehabilitated, and IsoEnergy holds a toll milling agreement with Energy Fuels Inc. at the nearby White Mesa Mill, which is fully operational. This is expected to position IsoEnergy to bring product to market far more quickly. Ore Sorting Study IsoEnergy has engaged Steinert Group, a global leader in separation technology, to test sensor-based ore sorting on mineralized material from the Tony M Mine. Bulk pilot testing using a Steinert KSS Sensor Sorter is scheduled to begin late June. This technology uses a combination of 3D, color, induction, and x-ray sensors to identify and separate target material, with the potential to: Reduce haulage costs by concentrating mineralization and lowering transport volumes to the White Mesa Mill; Improve mining productivity by reducing waste and enhancing ore advance rates; and Minimize dilution through more precise material handling. The Company continues to evaluate mining methods, including the use of three-drum slushers, to safely recover ore left in pillars from historical operations. High-Pressure Slurry Ablation (HPSA) Testing In parallel, IsoEnergy is testing mineralized material from Tony M at Disa Technologies using their patented High-Pressure Slurry Ablation (HPSA) process. HPSA uses high-pressure slurry streams to separate uranium coatings from sand grains, offering similar potential benefits to ore sorting in improving process efficiency and reducing costs. Enhanced Evaporation Study IsoEnergy is working with RWI Enhanced Evaporation to evaluate the use of Landshark evaporators on the Tony M evaporation pond. Preliminary results suggest that enhanced evaporation could eliminate the need for constructing additional pond capacity, reducing future dewatering timelines and associated costs for the later stages of mining. Key Permits in Place Three of IsoEnergy's U.S. uranium mines in Utah are fully permitted, providing a strong foundation for a swift potential restart and accelerated production timelines: Together, these permits provide IsoEnergy with a significant regulatory advantage, allowing for potential rapid reactivation of operations in response to improving uranium market conditions and anticipated strategic policy shifts favoring domestic nuclear fuel supply. About IsoEnergy Ltd. IsoEnergy (NYSE American: ISOU andTSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of U.S. securities laws (collectively, "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements may relate to the Company's properties, including expectations with respect to any potential restart decision with respect to the Company's US projects and the anticipated timing thereof; permitting, development or other work that may be required to bring any of the projects into development or production; the completion of planned technical studies and the expected results thereof; expectations regarding completion of technical and economic assessments; expectations regarding the Company's enhanced U.S. market presence; expectations regarding the Company's engagement with institutional and retail investors; increased demand for and interest in nuclear power and uranium; potential changes in US nuclear policy; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the results of planned exploration and development activities are as anticipated; assumptions that the results of planned technical work programs and technical and economic assessments are as anticipated; the anticipated mineralization of IsoEnergy's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; assumptions regarding uranium market conditions and policy shifts; that general business and economic conditions will not change in a materially adverse manner; t hat financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; changes in development and production plans based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry; and general economic and political conditions in Canada, the United States and other jurisdictions where the Company conducts business. Other factors which could materially affect such forward-looking statements are described in the risk factors in IsoEnergy's most recent annual management's discussion and analysis and annual information form and IsoEnergy's other filings with securities regulators which are available under the Company's profile on SEDAR+ at and on EDGAR at
Cision Canada
05-05-2025
- Business
- Cision Canada
IsoEnergy Marks Milestone as Trading Begins on the NYSE American Under "ISOU"
TORONTO, May 5, 2025 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (NYSE American: ISOU) (TSX: ISO) is pleased to announce that its common shares (the " Common Shares") have commenced trading today on the NYSE American LLC (the " NYSE American") under the symbol "ISOU". The Common Shares continue to be listed on the Toronto Stock Exchange under the symbol "ISO". Philip Williams, CEO and Director of IsoEnergy, commented, "Listing on the NYSE American is a major milestone for IsoEnergy and a testament to the strength of our portfolio and the growing importance of secure uranium supply. This enhanced U.S. market presence not only has the potential to increase our visibility and liquidity, but also positions us to better engage with a broader base of institutional and retail investors at a time when interest in nuclear energy is accelerating globally. As we continue to advance our high-grade assets in Canada, our restart-ready portfolio in the U.S., and our large-scale development project at Coles Hill, we believe IsoEnergy is uniquely positioned to become a leading force in the future of nuclear energy." About IsoEnergy Ltd. IsoEnergy (NYSE American: ISOU andTSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of U.S. securities laws (collectively, "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements may relate to the Company's properties, including expectations with respect to any permitting, development or other work that may be required to bring any of the projects into development or production; expectations regarding the Company's enhanced U.S. market presence; expectations regarding the Company's engagement with institutional and retail investors; increased demand for and interest in nuclear power and uranium; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the results of planned exploration and development activities are as anticipated; the anticipated mineralization of IsoEnergy's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; t hat financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry; and general economic and political conditions in Canada, the United States and other jurisdictions where the Company conducts business. Other factors which could materially affect such forward-looking statements are described in the risk factors in IsoEnergy's most recent annual management's discussion and analysis and annual information form and IsoEnergy's other filings with securities regulators which are available under the Company's profile on SEDAR+ at and on EDGAR at IsoEnergy does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Yahoo
09-04-2025
- Business
- Yahoo
Australia regulator waves through Woolworths' Beak & Johnston deal
Woolworths has received the go-ahead from the Australian competition regulator to proceed with its proposed acquisition of Beak & Johnston. The Australian Competition and Consumer Commission (ACCC) said today (9 April) it 'will not oppose' the deal. The acquisition involves Australian grocer Woolworths purchasing the 77% interest in B&J City Kitchen Pty and Alors Holdings Pty that it does not currently own, along with 100% of Beak & Johnston NZ Pty. However, Beak & Johnston's Greenacre unit, which supplies sauces, soups, slow-cooked meats, and other chilled ready meals, is not part of the acquisition. Beak & Johnston operates manufacturing facilities in Australia and New Zealand, producing chilled and frozen food. The company markets its products under brands including Pitango, Artisano, Ready Chef, Beak & Sons and Strength Meals Co. It also produces private-label items. The ACCC reviewed whether the acquisition could lead Woolworths – Australia's largest food retailer – to prioritise Beak & Johnston's products over those of rival suppliers, potentially harming competition in the ready meals segment. Its investigation found that several large ready meal suppliers with comparable capabilities to Beak & Johnston would remain in the market, including some that do not supply Woolworths. Additionally, smaller producers offer products "for niche product segments", the regulator added. ACCC Commissioner Dr Philip Williams said: 'Our investigation found that while Woolworths has significant bargaining power in its dealings with ready meal suppliers, in this case it was unlikely the acquisition would have a substantial anti-competitive effect. 'Rival suppliers of ready meals will continue to have access to other supermarkets and convenience stores. Ready meal suppliers can also distribute through other channels, such as food service wholesaling and direct-to-consumer models.' The New Zealand Commerce Commission (NZCC) is assessing a similar clearance application submitted by Woolworths in January. In February, the NZCC published the statement of preliminary issues regarding the acquisition. An anonymous stakeholder expressed apprehension the deal could 'substantially lessen competition' in the wholesale and retail markets across various food types such as slow-cooked meats, chilled soups, and plant-based meat alternatives. The ACCC's statement today noted the NZCC is considering a clearance application related to Woolworths' proposed acquisition of Beak & Johnston. "Australia regulator waves through Woolworths' Beak & Johnston deal " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
Australia regulator waves through Woolworths' Beak & Johnston deal
Woolworths has received the go-ahead from the Australian competition regulator to proceed with its proposed acquisition of Beak & Johnston. The Australian Competition and Consumer Commission (ACCC) said today (9 April) it 'will not oppose' the deal. The acquisition involves Australian grocer Woolworths purchasing the 77% interest in B&J City Kitchen Pty and Alors Holdings Pty that it does not currently own, along with 100% of Beak & Johnston NZ Pty. However, Beak & Johnston's Greenacre unit, which supplies sauces, soups, slow-cooked meats, and other chilled ready meals, is not part of the acquisition. Beak & Johnston operates manufacturing facilities in Australia and New Zealand, producing chilled and frozen food. The company markets its products under brands including Pitango, Artisano, Ready Chef, Beak & Sons and Strength Meals Co. It also produces private-label items. The ACCC reviewed whether the acquisition could lead Woolworths – Australia's largest food retailer – to prioritise Beak & Johnston's products over those of rival suppliers, potentially harming competition in the ready meals segment. Its investigation found that several large ready meal suppliers with comparable capabilities to Beak & Johnston would remain in the market, including some that do not supply Woolworths. Additionally, smaller producers offer products "for niche product segments", the regulator added. ACCC Commissioner Dr Philip Williams said: 'Our investigation found that while Woolworths has significant bargaining power in its dealings with ready meal suppliers, in this case it was unlikely the acquisition would have a substantial anti-competitive effect. 'Rival suppliers of ready meals will continue to have access to other supermarkets and convenience stores. Ready meal suppliers can also distribute through other channels, such as food service wholesaling and direct-to-consumer models.' The New Zealand Commerce Commission (NZCC) is assessing a similar clearance application submitted by Woolworths in January. In February, the NZCC published the statement of preliminary issues regarding the acquisition. An anonymous stakeholder expressed apprehension the deal could 'substantially lessen competition' in the wholesale and retail markets across various food types such as slow-cooked meats, chilled soups, and plant-based meat alternatives. The ACCC's statement today noted the NZCC is considering a clearance application related to Woolworths' proposed acquisition of Beak & Johnston. "Australia regulator waves through Woolworths' Beak & Johnston deal " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
