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Woolworths stake acquisition in PFD Food Services not opposed
Woolworths Group Limited’s acquisition of a 65 per cent stake in PFD Food Services Pty Limited is set to go ahead after the Australian Competition and Consumer Commission (ACCC) ruled it wouldn’t oppose it.
Emma Musgrave
Firm: Clayton Utz (Woolworths Group Limited).
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Deal: The ACCC has confirmed it is not opposing the 65 per cent stake acquisition of PFD Food Services Group by Woolworths Group Limited.
Value: Undisclosed.
Area: M&A, competition.
Key players: The legal team advising Woolworths was led by Clayton Utz competition national practice group leader Kirsten Webb, with support from partner Mihkel Wilding. Corporate partner Geoff Hoffman lead the corporate elements of the transaction.
Deal significance: As per a statement provided by Clayton Utz, the ACCC said it would not oppose the acquisition after it concluded, after a nine-month investigation, that it was not likely to substantially lessen competition.
Commenting on the result, competition lead partner Ms Webb said her team was pleased to have helped Woolworths “to secure this outcome, to support the Woolworths Group’s evolution into a food and everyday needs ecosystem”.
