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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.

June 24, 2021 • By Emma Musgrave
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Woolworths stake acquisition in PFD Food Services not opposed
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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”.

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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