Coles in talks with TPG over potential Greencross acquisition valued at about A$4 billion
Australia’s supermarket giant Coles confirmed it is in talks with private equity firm TPG Capital about a potential acquisition of pet care company Greencross, which is valued at about A$4 billion. Greencross owns 267 retail stores and more than 140 veterinary clinics, alongside a range of pet services assets. Coles shares fell about 5% after the disclosure. Separately, the ACCC blocked Coles’ plan for a new supermarket and liquor store in Kalgoorlie, Western Australia, citing concerns it could substantially lessen competition in the local market.