In October 2023, Woolworths Holdings Limited (WHL) announced its intention to acquire 93.45% of the shares in privately-owned pet retailer Absolute Pets (Pty) Ltd from Sanlam Private Equity and Absolute Pets management. The South African Competition Tribunal has approved the transaction, which is effective from 1 April 2024.
Pet care is a rapidly developing market with substantial growth potential. The acquisition of Absolute Pets accelerates Woolworths’ pet strategy by bringing together two strategically-aligned businesses, and positions the Group to lead as the end-to-end pet care destination of choice, in South Africa.
“We welcome the approval by the Competition Tribunal,” said Roy Bagattini, WHL Group CEO. “Pet care is a fast growing business and is also important to Woolies customers. Woolies pet parents see their pets as integral family members and our teams are excited to get to work on delivering on the opportunities this partnership will provide, through even more exceptional quality products, and service, to even more customers.”
Absolute Pets, in addition to WPet (the group’s existing pet care business), will form part of Woolworths Ventures, a newly created internal unit focussed on accelerating and delivering on the full potential of various strategic growth initiatives across the business.
