Pitcher Partners has acted for PFD Food Services in connection with ASX-listed Woolworths Group’s $552m acquisition of a 65% equity stake and related distribution centres.
In Woolworths Group’s official ASX announcement, PFD Food Services’ CEO Kerry Smith said:
“We are pleased to deepen our existing strategic partnership with Woolworths Group for the longer-term via their investment in our business…. In Woolworths Group, we are confident we have found a partner with shared experience and expertise, but also whose operations and vision for the future complement our own.”
The Pitcher Partners team was led by Stephen Whitchurch, Greg Nielsen, Craig Whatman and Stuart Dall.
Stephen said: “We are delighted to have assisted PFD and Rick Smith and his family through this process, which will deliver great value for the Company and its new and existing shareholders alike. PFD has an enviable history in its provision of food services to Australians, which is in no small part due to the exceptional stewardship of Rick and family over many years, together with a fantastic workforce of people. The outstanding PFD executive team, including CEO Kerry Smith and CFO Peter Cartsidimas, are to be congratulated for their tireless efforts and dedication to making this deal happen.”