Speaking of acquisitions…
Woolworths (positive impact) announced that the ACCC will not oppose its acquisition of PFD foods.
As a reminder, PFD foods is a foodservice network that distributes goods to a range of businesses within the hospitality industry including pubs and clubs, cafes, airlines, hotels and restaurants.
As part of the acquisition, Woolworths will acquire 26 of PFD’s distribution centres.
The acquisition strengthens both Woolworth and PFD’s distribution network and brings Woolworths operational capabilities and ability to capture/utilise data to PFD.
We see the announcement as a reflection of Woolworths’ strong position in the Australian market and the Australian corporate landscape.
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