The competition regulator has finally given a green light to Woolworths’ acquisition of PETstock, a year after it made a play for the pet sector, forcing the target to sell some stores to get the deal over the line.

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 is about $1.46 billion, the grocery giant said on Thursday.