Former Animal Tuckerbox store is one of dozens of acquisitions by PETstock examined by ACCC

An investigation by the consumer protection watchdog could result in a popular PETstock store in the state’s north soon being sold off. What they’re investigating.

The former Animal Tuckerbox store was acquired by Petstock in 2016. Picture: David Geraghty

An investigation by consumer protection watchdog ACCC could result in a popular PETstock store in Launceston soon being sold off.

The former Animal Tuckerbox store was purchased back in 2016 by PETstock as part of its acquisitions of Animal Tuckerbox and fellow pet retailers Best Friends Pets, Pet City and Pet and Aquarium Warehouse in Victoria, between 2017 and 2022.

However, PETstock is now offering to sell off PETstock Launceston Central and 40 specialty pet retail stores, 25 co-located veterinary hospitals, four brands and two online retail stores to resolve its part in an ACCC investigation into the purchases of the companies during those years.

The Australian Competition and Consumer Commission (ACCC) states they were not notified of the company acquisitions when they took place and only became aware of the acquisitions during its current review into the proposed purchase by Woolworths of a 55 per cent interest in PETstock.

ACCC commissioner Stephen Ridgeway is concerned that the purchase of these companies by PETstock raises “significant competition concerns” for the pet retail sector in Australia.

“During the current Woolworths, PETstock merger review, market participants expressed concerns about the already significant consolidation that had occurred within specialty pet retail in recent years,” he said.

“Our investigation so far has identified significant concerns with four transactions in particular because of their impact on national and statewide chain-on-chain competition, as well as competition in multiple local areas.”

PETstock’s acquisitions of Best Friends Pets, Pet City, Animal Tuckerbox and Pet and Aquarium Warehouse in Eltham may have breached section 50 of the Competition and Consumer Act, the ACCC says.

Section 50 relates to the prohibiting of the direct or indirect acquisition of shares or assets where the acquisition would have or be likely to have the effect of substantially lessening competition in any market.

A PETstock spokesman said the company would continue to “work with the ACCC” during the investigation and ensured the Launceston community and its staff would be supported.

“During this time, all sites will continue to operate with our ongoing support,” he said.

“We remain committed to the care of all stores and each and every team member.”