IBA make submission on merger and acquisition reform
16 August 2024
The Independent Brewers Association has responded to an exposure draft of Treasury Laws that will deliver the Australian Government’s reforms to merger rules and processes announced on 10 April 2024.
The Government says that its reform proposes a faster, stronger and simpler system which better targets anti‑competitive transactions to improve consumer and business outcomes.
The IBA are supportive of reform that gives stronger powers to the Australian Competition and Consumer Commission in assessing mergers and acquisitions – but wants the ACCC to undertake a more thorough and detailed review as to whether the activity substantially lessens competition.
The beer market in Australia is one of the most restricted in the world, with two large foreign-owned corporations dominating beer supply, and two large companies dominating the retail beer sector. Mergers and acquisitions, and the regulatory landscape that have underpinned them, has been one of the factors that has contributed to the market landscape we see today.
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