Woolworths to acquire 65% stake in PFD Food Services.

Woolworths, which operates general merchandise consumer stores and supermarkets, agreed to acquire 65% stake in PFD Food Services, Australia’s foodservice supplier. The transaction is subject to ACCC approval and the satisfaction of customary closing conditions with completion expected by the end of the calendar year 2020. Financial terms were not disclosed. “It is a business we have long admired and we have a shared vision for continued innovation, customer focus and investment in the food sector. We look forward to delivering even better experiences together for our customers as we continue to respond to their changing needs in a post Covid world," Brad Banducci, Woolworths Group CEO.