Media Release: Clayton Utz Competition team helps Woolworths Group Limited get green light for PFD Food Services acquisition
Sydney, 17 June, 2021: The Clayton Utz Competition team has worked with our client Woolworths Group Limited (Woolworths) to secure a very important result, with Australia's competition regulator announcing it will not oppose Woolworths' acquisition of a 65 per cent stake in PFD Food Services Pty Limited.
Clayton Utz Competition National Practice Group Leader Kirsten Webb led the firm's Competition team, with key support from partner Mihkel Wilding, and on the Corporate side, partner Geoff Hoffman led the transaction.
In a statement, the Australian Competition and Consumer Commission (ACCC) said it would not oppose the acquisition, finding (following a detailed investigation over nine months) that it was not likely to substantially lessen competition.
Kirsten said her team was pleased to have helped Woolworths to secure this outcome, to support the Woolworths Group's evolution into a food and everyday needs ecosystem.
Clayton Utz recently supported Woolworths on bringing The Quantium Group Holdings Pty Ltd into Woolworths' ownership by moving to a 75% stake in the business, reported as the single biggest investment in data analytics by an Australian retailer.
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