Coles ends talks with TPG Capital over Greencross buyout

The news: Supermarket group Coles has ceased talks with private equity firm TPG Capital over the potential acquisition of pets and vets business Greencross Pet Wellness Company.

The context: Coles disclosed earlier this month that it was undertaking due diligence on Greencross, with “no certainty that a transaction will proceed”.

What they said: “Coles applies a disciplined approach to acquisitions, and as one of Australia’s leading retailers, regularly assessses strategic opportunities that may complement its existing business,” the company told the exchange on Friday.