Woolworths checking out Mill Liquorsave

Woolworths has confirmed it is conducting due diligence on liquor store owner The Mill Liquorsave.

Woolworths chief executive Michael Luscombewould not say yesterday how much the business would cost, other than that it would be under A$100 million ($116.95 million).

The Mill opened its first store in 1993 and now has 41 stores throughout New Zealand.

Woolworths' move comes as its main supermarket competitor in New Zealand, Foodstuffs, is said to be negotiating to buy seven-store Christchurch-based chain Imperial Liquor.