Set up a publicly funded supermarket chain, KiwiMart, to break up the supermarket duopoly

The Greens say they will establish a publicly funded supermarket chain called KiwiMart to break up the supermarket duopoly.

Under the plan, the existing giants in the grocery sector, Woolworths and Foodstuff, will be forced to sell at least 120 stores and distribution centre capacity into public ownership for the new chain.

Greens co-leader Chlöe Swarbrick said the party would also legislate to ban excessive pricing in the grocery, energy and fuel sectors.

She said the parliamentary library estimated the cost of acquiring 120 stores and two distribution centres to be $1.3 billion, with a further $1.5 billion needed to capitalise KiwiMart as a commercially viable competitor.

“Successive governments have studied this problem to death. There have been market studies, codes of conduct and stern letters, while the price of groceries skyrocketed. The Greens will not sit on our hands. We will ensure New Zealanders get the affordable groceries they deserve,” Swarbrick said.