Woolworths, the esteemed South African fashion and food retail powerhouse, has declared its acquisition of a substantial 93.45% stake in Absolute Pets, a prominent player in the pet care retail arena. This strategic business move reflects Woolworths’ fervent engagement in the fierce competition to capture the loyalty South Africa’s affluent clientele.
The undisclosed acquisition cost will be paid in cash, with Woolworths committed to acquiring the remaining management-retained shareholding over a stipulated timeframe following the conclusion of the transaction, as stated by the retailer.
Woolworths emphasized the allure of the pet care market, characterizing it as a dynamic and burgeoning industry with substantial room for expansion. Moreover, the company underlined the growing importance of this sector for Woolworths’ clientele, who regard their pets as integral members of their own families.
In a showdown with its competitor, Checkers, which is owned by Shoprite (SHPJ.J), the Cape Town-based retailer is aggressively entering the arena. Notably, Checkers has established an impressive 67 premium pet stores since 2021.
Absolute Pets, originating in 2005, has ascended to the pinnacle of South Africa’s specialized pet care retail sector. With a sweeping national reach that encompasses a network of 150+ stores, online platforms, pet spas, and a comprehensive range of pet services, they have firmly cemented their dominance in the pet care domain.