Woolworths Holdings Limited is poised to dominate the pet industry with its recent decision to acquire a majority stake in Absolute Pets.
This bold move will see Woolworths taking ownership of 93.45% of Absolute Pets’ shares, solidifying its position as a leader in the pet care market.
But the partnership doesn’t end there – Woolworths plans to gradually acquire the remaining shares and fully integrate Absolute Pets into its pet strategy, making it the go-to destination for all things pet-related in South Africa.
With over 150 stores nationwide, including online services and pet spas, Absolute Pets has made a name for itself as the top specialist pet care retailer in the country since its establishment in 2005.
And now, with the support of Woolworths, it is set to reach even greater heights.
For Woolworths, this acquisition is a strategic move to tap into the rapidly-growing pet industry and cater to its customers’ desire for high-quality pet products and services.
As CEO Roy Bagattini puts it, Absolute Pets and Woolworths are a match made in retail heaven, with a shared dedication to excellence and a commitment to providing the best for their customers and their furry companions.
Under the guidance of Absolute Pets’ current management team, led by CEO Stephen Warner, the brand will continue to thrive and provide top-notch pet care.
Together, Absolute Pets and Woolworths will offer an unrivaled pet experience, bringing joy and happiness to pets and their owners alike.
“We are ecstatic to join forces with Woolworths, a brand that shares our values and vision for the future. This partnership will not only bring growth and success, but also a deeper connection with our beloved pets and their families. The purchase will be settled in cash, marking the beginning of an exciting new journey,” says Warner.
Of course, this exciting venture is still subject to regulatory and commercial approvals, including the competition authority in South Africa.
But with such strong synergies and a mutual drive for excellence, there’s no doubt that this partnership will go from strength to strength, setting the benchmark for pet care in South Africa and beyond.