Woolworths Holdings Limited announced its intention to acquire 93.45% stake in Absolute Pets Ltd. from SPE MID-Market Fund I Partnership, a fund managed by Sanlam Private Equity, and Absolute Pets management.

Woolworths Holdings Limited (JSE:WHL) announced its intention to acquire 93.45% stake in Absolute Pets (Pty) Ltd. from SPE MID-Market Fund I Partnership, a fund managed by Sanlam Private Equity, and Absolute Pets management on October 31, 2023. The remaining management-retained shareholding will be acquired by Woolworths over an agreed period, post the completion of the transaction. The purchase consideration will be settled in cash, and the conclusion of the transaction is subject to the fulfilment of both regulatory and commercial suspensive conditions customary of a transaction of this nature, including competition authority approval in South Africa.

Webber Wentzel acted as a legal advisor to Woolworths Holdings Limited (JSE:WHL).