General News
9 November, 2026
Peries sell retail stores
LEADING wholesaler Metcash is taking over the Peries Group, which operates 15 IGA supermarkets – including two in Cairns – in a deal worth between $80 million and $85m.
Metcash says it has exercised its right and entered into a binding agreement to acquire the Peries Group, which operates 15 medium and large-format IGA supermarkets across Queensland, including at Piccone’s shopping centres at Manunda and Edmonton.
The supermarkets business generated about $264 million in retail sales in 2026 and employs about 1000 people. Metcash’s wholesale sales to the Peries Group were $150 million in the same year.
Metcash says the deal is expected to help protect, grow and strengthen the IGA network in the strategically important Queensland market which has delivered stronger retail and wholesale growth than most other states over the past three years.
Metcash currently holds a 45% share of the Queensland-based Cornetts Group that operates 35 supermarkets, including at Gordonvale, Cairns North, Kuranda, Port Douglas and Mareeba.
“The Peries Group has meaningful retail scale, strong regional market positions and an established operating platform,” a Metcash statement said.
“Its’ store network is concentrated in regional Queensland markets where IGA has a very strong customer proposition and, in several communities, is the leading or only full-line grocery offering.”
Australia Metcash Group CEO Doug Jones said the Peries Group was “a high-quality independent business and its acquisition is consistent with our strategy of protecting, growing and strengthening the independent IGA grocery network”. “We believe this transaction will enhance our Queensland presence and create additional opportunities for Metcash and the wider IGA network,” he said.
The Piccone family sold their IGA supermarkets to Peries in 2024.
