Next week will mark the 12-month anniversary of Street Talk’s report that Woolworths was preparing to buy PETstock, a privately owned, Victorian-headquartered dog and cat food and accessories business.
Several days later, Woolworths confirmed it would acquire a 55 per cent stake in the PETstock’s parent, Petspiration Group, for $586 million. It is the second-largest player in the specialty pet sector. And shortly thereafter, the Australian Competition and Consumer Commission kicked off consultation on whether the acquisition would create a problem for other players.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
