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1. www.afr.com › companies › retailM&A: ACCC approves Woolworths acquisition of Petstock

   www.afr.com › companies › retail

   Dec 14, 2023 · The purchase price for Woolworths’ 55 per cent stake in Petspiration Group, which trades as PETstock, is now expected to be $438 million, reduced from $586 million. The adjusted enterprise value ...

   • Author: Carrie Lafrenz

2. www.afr.com › companies › retailWoolworths splashes $586m for a stake in PETstock owner ...

   www.afr.com › companies › retail

   Dec 15, 2022 · Woolworths barks up a new tree, splashes $586m on PETstock owner. Woolworths Group boss Brad Banducci says there is plenty of growth left in the booming pet sector, from doggy daycare to nutrition ...

3. www.afr.com › companies › retailPetO snares stores from Woolworths-backed pet group

   www.afr.com › companies › retail

   May 27, 2024 · PetO will buy 41 stores and 25 co-located vet clinics from PETstock, helping to triple its sales to $200 million. A 55 per cent stake in PETstock was first purchased by Woolworths in December 2023 ...

   • Author: Carrie Lafrenz

4. www.fool.com.au › 2023/12/14 › woolworths-sharesWoolworths shares rise on Petstock acquisition approval news

   www.fool.com.au › 2023/12/14 › woolworths-shares

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   Dec 14, 2023 · It is now expected to be $438 million for the 55% equity interest, which is down from $586 million. Woolworths has welcomed the ACCC decision and advised that it expects the acquisition to ...

5. www.retail-insight-network.com › news › acccACCC approves Woolworths’ acquisition of 55% stake in Petstock

   www.retail-insight-network.com › news › accc

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   Dec 15, 2023 · The deal was initially announced in December 2022 and will see Woolworths buying a 55% stake in Petstock. In reviewing the deal, the ACCC raised concerns over Petstock’s previously completed acquisitions between 2017 and 2022. During this period, the pet retailer purchased other speciality pet retailers, including Best Friends Pets and Pet ...

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7. www.marketscreener.com › quote › stockACCC consults on Petstock's proposed divestitures to address ...

   www.marketscreener.com › quote › stock

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   Oct 19, 2023 · More information on this matter can be found here: Woolworths Group Limited - Petstock Pty Ltd. Background. Petstock is the second largest omni-channel Australian specialty pet retailer. Since 2017, Petstock has acquired numerous other specialty pet retailers including Best Friends Pets (2022), Pet City (2022) and Animal Tuckerbox (2021).

8. www.accc.gov.au › media-release › woolworthsWoolworths' acquisition of controlling interest in Petstock ...

   www.accc.gov.au › media-release › woolworths

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   Dec 14, 2023 · The ACCC has accepted a court-enforceable undertaking from Petstock Pty Ltd (Petstock) to divest a package of sites and assets, including 41 retail stores, following the ACCC’s enforcement investigation into past acquisitions by Petstock. The ACCC will not oppose Woolworths' (ASX: WOW) proposed acquisition of a 55 per cent controlling ...

9. People also ask

   Did Woolworths buy petstock?

   • “Shortly after the ACCC commenced its review of Woolworths’ proposed acquisition of a majority interest in Petstock, it emerged that Petstock had completed a large number of acquisitions in the pet industry in recent years that had not been notified to the ACCC.

   Woolworths' acquisition of controlling interest in Petstock not opposed

   www.accc.gov.au/media-release/woolworths-acquisition-of-controlling-interest-in-petstock-not-opposed-as-petstock-gives-undertakings-relating-to-past-acquisitions

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   Does Woolworths still have a booming pet sector?

   • Woolworths Group boss Brad Banducci says there is plenty of growth left in the booming pet sector, from doggy daycare to nutrition and grooming, after the grocery giant snapped up a 55 per cent stake in pet business Petspiration Group for $586 million.

   Woolworths splashes $586m for a stake in PETstock owner Petspiration

   www.afr.com/companies/retail/woolworths-to-acquire-stake-in-petstock-owner-for-586m-20221215-p5c6ki

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   Will Woolworths' 55% interest in petstock reduce competition?

   • ACCC Chair Gina Cass-Gottlieb stated: “After extensive consultation with market participants and a comprehensive review of the parties’ internal documents, data and research, we consider Woolworths’ proposed acquisition of a 55% interest in Petstock is unlikely to substantially lessen competition.

   ACCC approves Woolworths’ acquisition of 55% stake in Petstock

   www.retail-insight-network.com/news/accc-woolworths-petstock-acquisition/

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   Will the ACCC oppose Woolworths' proposed acquisition of petstock?

   • The ACCC will not oppose Woolworths' (ASX: WOW) proposed acquisition of a 55 per cent controlling interest in Petstock, and has also accepted a court-enforceable undertaking from Woolworths to support the Petstock divestiture.

   Woolworths' acquisition of controlling interest in Petstock not opposed

   www.accc.gov.au/media-release/woolworths-acquisition-of-controlling-interest-in-petstock-not-opposed-as-petstock-gives-undertakings-relating-to-past-acquisitions

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   How much is Woolworths' PET business worth?

   • The adjusted enterprise value is about $1.46 billion, the grocery giant said on Thursday. CEO of Woolworths Brad Banducci, pictured here with his dog Juno, pushed into the pet sector following the COVID puppy boom. The COVID-19 pet boom spurred Woolworths to invest in the $10 billion specialty pet sector last December.

   M&A: ACCC approves Woolworths acquisition of Petstock

   www.afr.com/companies/retail/accc-gives-nod-to-woolworths-pets-deal-with-asset-sales-in-tow-20231214-p5erfb

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   Why did the ACCC review the petstock deal?

   • In reviewing the deal, the ACCC raised concerns over Petstock’s previously completed acquisitions between 2017 and 2022. During this period, the pet retailer purchased other speciality pet retailers, including Best Friends Pets and Pet City, without notifying the regulator of the acquisitions.

   ACCC approves Woolworths’ acquisition of 55% stake in Petstock

   www.retail-insight-network.com/news/accc-woolworths-petstock-acquisition/

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