Auctus Investment Group announcement on woolworths' acquisition of petstock

Auctus Investment Group (ASX: $AVC) has announced that the Australian Competition and Consumer Commission (ACCC) will not oppose the purchase of 55% of the PETstock Group Pty Ltd (PETstock) by Woolworths Group Limited. The ACCC has accepted PETstock's undertaking to divest a package of 41 sites. Auctus Investor returns are finalised and not subject to the outcome of the divestment package. The final close of the transaction is scheduled for Wednesday 3 January 2024.

Executive Commentary on Woolworths' acquisition of PETstock

The Woolworths acquisition of a 55% interest in PETstock has been a significant development. We are pleased that the ACCC has accepted PETstock's undertaking to divest a package of 41 sites, which has paved the way for the final close of the transaction. This decision ensures the completion of the acquisition and provides clarity for Auctus Investor returns. We look forward to the successful finalization of the transaction on 3 January 2024.

Summary of Auctus Investment Group's Announcement

Auctus Investment Group (ASX: $AVC) has informed that the ACCC will not oppose Woolworths' acquisition of a 55% interest in PETstock. The ACCC has accepted PETstock's undertaking to divest a package of 41 sites, including 25 veterinary hospitals and two online retail stores. The final close of the transaction is scheduled for 3 January 2024. Auctus expects its performance fee attributable from the sale of the PETstock Group to be $3m. The adjusted enterprise value is estimated to result in a return on equity of 1.5x for unitholders in The Pet Fund. Auctus Investment Group continues to focus on opportunities across private equity, infrastructure, and private real estate, providing access to private market investments for wholesale, Family Office, and sophisticated investors.