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Sainsbury's teams up with Australia’s Coles in wholesale deal

Coles will access the FTSE 100-listed retail giant's supply chain to expand its own-brand range beginning next year

J Sainsbury PLC - Sainsbury's in wholesale partnership with Australia’s Coles
Sainsbury’s has fallen behind its big rivals in wholesale

J Sainsbury PLC (LON:SBRY) has agreed a partnership with Australian retailer Coles Group Ltd (ASX:COL) to supply food and groceries not available in either market.

Under the deal, Coles will from next year start accessing the FTSE 100-listed retail giant's supply chain to expand its own-brand range, with the UK grocer also exploring options to "bring a distinctive proposition to UK customers".

READ: Sainsbury's statutory interim profits fall 92%

Sainsbury's said it was a key part of a plan to build its wholesale business, an area where rivals Tesco's and Morrisons are some steps ahead.

The Coles news comes a week after Sainsbury’s released its interim results, reporting a 15% drop in underlying profit before tax to £238mln compared to the same period last year, due to higher marketing costs, “tougher” weather compared to last year and the timing of cost-cutting efforts.

Shares were little changed at 201.3p on Monday morning.

Quick facts: J Sainsbury PLC

Price: 189.45 GBX

LSE:SBRY
Market: LSE
Market Cap: £4.21 billion
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