ACCC gives green light to pet chain's deal to acquire 66 new stores and vet clinics, emerge as third market pl

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Sydney-based pet chain PetO's acquisition of more than 60 new stores and vet clinics has been approved, allowing it to emerge as a third major player in the industry.

chain PetO's acquisition of more than 60 new stores and vet clinics, allowing it to emerge as a third major player in the industry.

That will see it expand from its current 17 stores around the Sydney region to 58 across much of the country, as well as adding 25 veterinary clinics, in a move the company says will establish it as a "clear and credible third player" in the market.PetO co-founders Nick Greenhalgh and David Rowe. The brothers' business has expanded significantly with the acquisitions of more than 60 stores and vet clinics.

The ACCC green-lit that $438 million deal at the same time Petstock and Woolworths agreed to divest the same 41 stores and 25 vet clinics PetO has today acquired, after claims of anti-competitive behaviour when Petstock originally bought those stores . In a statement released today, PetO said its acquisition of its new stores and clinics will see its staff size climb tenfold to 1000, and it expects revenue to triple to about $200 million next financial year.

 

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