In 1995, Jewel Food Stores Pty Ltd was acquired by Davids Holdings that later became Metcash Trading Ltd. In 1998 Davids sold 130 Jewel supermarkets to Independent Retailers for about $100 million. A number of stores closed. The Jewel name disappeared almost entirely when the Independent Retailers rationalised their 29 different grocery banners to form one, Independent Grocers of Australia (IGA). A handful of stores retained the branding beyond the rationalisation. These included a Jewel branded store in Sunshine, Victoria until 2000, and one in Lalor Park which retained the Jewel branding until 2008.