Woolworths welcomes the Competition Tribunal’s approval of its acquisition of in2food and is pleased to confirm that all regulatory suspensive conditions customary for a transaction of this nature have now been fulfilled. Implementation of the transaction is expected to take place in the coming month.

The acquisition is a natural extension of Woolworths Food’s premium food ecosystem and builds on a strategic supplier relationship spanning more than 30 years. in2food is a South African producer of high-quality convenience foods, with a strong track record of collaboration with Woolworths and a shared focus on quality, innovation and a differentiated customer proposition.

This transaction advances the Group’s strategy by strengthening Woolworths Food’s supply chain resilience and further differentiating its premium offering. Greater integration is expected to increase agility and efficiency across the supply chain, improve speed-to-market and responsiveness to changing customer needs, and enhance innovation and new product development. The transaction is expected to be earnings-accretive to the Company, with further benefits anticipated as efficiencies are realised over time, reinforcing the Group’s disciplined approach to capital allocation and long-term value creation.

The acquisition will also support new revenue opportunities by leveraging in2food’s established presence in food service and export markets to accelerate growth in non-competing channels. Woolworths remains committed to working closely with its diverse supplier partners, whose capabilities and expertise will continue to play an integral role in the strength and future growth of the Food ecosystem.

On completion, in2food will continue to operate as a standalone business within Woolworths.