Coles Explores Acquisition of Greencross Pet for Up to A$4 Billion With TPG
Coles Group Ltd. said it is in preliminary discussions with US private equity firm TPG to acquire Greencross Pet Wellness, Australia’s largest veterinary chain and pet store operator. The transaction, reportedly valued at up to Australian $4 billion, caused Coles’ shares to slide on the morning of the announcement.
If completed, the deal would mark a significant expansion for Coles, the country’s second-largest supermarket chain, into the pet care and veterinary services sector. Greencross operates more than 400 stores and a veterinary network across the nation, positioning it as a strategic acquisition for a retailer seeking to diversify beyond groceries.
From the sources (2 posts)
@businessColes said it’s in talks to buy pet store and veterinary business Greencross Pet, a deal that reportedly could be valued at as much as A$4 billion
@reutersColes in talks with US-based TPG to buy Greencross Pet Wellness; shares slide