Coles signing up to the Food and Grocery Industry Code of Conduct

Following yesterday’s historic enactment of the Food and Grocery Code of Conduct, Coles has advised the AFGC officially that it will be signing up.

This means Coles, Woolworths and Aldi will all be Code signatories. Metcash has indicated that it will consider formally signing up to the Code in twelve months’ time but will abide by the Code requirements.

Enactment of the Code and achieving voluntary sign up by retailers covering more than 80% of the market is a significant achievement for the industry.

Coles Managing Director John Durkan states:

“Coles has worked constructively for the past two years on the development of the Food and Grocery Code.

“With the Code now ratified by Parliament, Coles is pleased to announce it will become a signatory to the Code.

“The Grocery Code is consistent with the objectives and values of the Coles Supplier Charter, announced in August last year. The aim of both is to strengthen relationships between retailers and suppliers through greater certainty and transparency around commercial terms and good faith commercial conduct.

“Coles is committed to ensuring Code compliance. The Code provides for a 12-month transitional period from the time of signing in which to ensure contracts with existing suppliers are reviewed to meet the requirements of the Code. Coles will work within the timelines of the Code to ensure compliance for all suppliers is delivered in full and on time.”