Woolworths Holdings Limited (JSE:WHL) will look for M&A. Roy Bagattini said, "So I think what this shows you is that we see significant potential in our own businesses. Bear in mind, half of this CapEx is going towards growth and what we call growth-enabling initiatives. So it's really a massive vote of confidence that we have in our strategies and the direction we're taking.

But I guess, yes, I mean, we would consider M&A just like the nature of an Absolute Pets acquisition that we've recently made, if it makes sense. And if it satisfies the criteria that we've laid out. We're very disciplined in our approach to going after inorganic opportunities".