Summary: The Australian Competition and Consumer Commission (ACCC) is examining PETstock’s past acquisitions as part of its review of the pet retailer’s stake sale to Woolworths Group.
The Australian Competition and Consumer Commission (ACCC) has expressed concerns over PETstock’s prior acquisitions made between 2017 and 2022 in relation to the pet retailer’s proposed stake sale to Woolworths Group. The regulator is currently conducting a review of Woolworths Group’s plan to acquire a 55% stake in PETstock. The ACCC’s scrutiny suggests potential issues surrounding competition in the pet retail market, which warrants a thorough investigation. The outcome of the review will determine whether approval will be granted for the deal to proceed.
Tags: Australian Competition and Consumer Commission, PETstock, Woolworths Group, acquisitions, stake sale, review, competition, pet retail market