• Bonds: Part of the Pacific Brands stable.
    Bonds: Part of the Pacific Brands stable.
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The corporate watchdog has cleared a $180 million transaction between two retail giants.

The Australian Competition and Consumer Commission will allow the sale of Pacific Brands' workwear division to Wesfarmers.

The $180 million sale was announced in March and includes the Hard Yakka, KingGee and Stubbies brands.

The maker of Hard Yakka, KingGee and Stubbies announced the $180 million sale in August.

ACCC chairman Rod Sims said Wesfarmers would be unlikely to restrict access to the workwear brands by resellers and other retailers.
 
"Industry feedback suggests that brand loyalty has diminished over recent years as customers become more focused on quality, price and service."
 
Sims also said Wesfarmers would face import competition with its new acquisition, with new wholesalers and resellers set to enter the market in coming years.
 
"Wesfarmers will continue to be constrained by a number of existing suppliers and by actual and potential imports from Asia.

"In retail markets, Wesfarmers will face competition from other retail chains and local outlets for the supply of workwear."

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