Coles in discussions with TPG Capital over potential Greencross acquisition
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The news: Supermarket group Coles has confirmed it’s in discussions with private equity giant TPG Capital over a potential acquisition of Greencross Pet Wellness Company.
The context: Coles said it is currently undertaking due diligence but will only pursue an acquisition if it is satisfied the move would be “strategically compelling and capable of delivering attractive shareholder returns”.
“Discussions remain incomplete and there is no certainty that a transaction will proceed,” the company told the exchange on Wednesday.
The statement followed a media report in the AFR, which claimed Coles is in “advanced discussions” to acquire the pets and vets business.
