Foodstuffs says it will look closely at the Commerce Commission's decision against its proposed north and south island merger

Chair John Small said the Commission wasn't satisfied it wouldn't substantially lessen competition.

The decision was announced on October 1, but released in full today.

Foodstuffs says it will be reading it carefully before it decides on its next move.

North Island CEO Chris Quin says they strongly believe the merger is the best option for making the business more efficient and keeping checkout prices as low as possible