Woolworths’ $586 million investment in the pet industry has sparked a significant transformation in Australia’s pet store landscape. This move paved the way for a Sydney-based family business, PetO, to expand its operations exponentially by acquiring 66 new retail stores and vet clinics. The acquisition came after Woolworths secured a majority stake in PETstock, leading to PETstock divesting several stores, all of which were snapped up by PetO.
Founded by brothers Nick Greenhalgh and David Rowe, PetO is now eyeing further expansion to compete with established players in the market. The surge in pet-related spending, estimated at $33 billion annually in Australia, has been on the rise, particularly during the COVID-19 pandemic when pet ownership saw a notable increase. This trend attracted supermarkets and major retailers like Bunnings to tap into this growing market segment.
With the acquisition, PetO’s revenue has tripled to around $200 million, and its reach now extends beyond New South Wales to Victoria, Queensland, Western Australia, Tasmania, and the ACT. The acquired stores, previously operating under various brands, are now being evaluated for potential rebranding under the PetO umbrella, while the Our Vet clinics will retain their current name.
As part of the expansion, PetO has significantly bolstered its team to accommodate the tenfold increase in staff numbers, now totaling around 1000 employees. The company plans to introduce its core product range to the new stores while retaining popular items that resonate with specific demographics or locations, such as pet treats, vitamins, and fresh refrigerated pet food.
The co-founders are optimistic about completing the acquisition by July 1, with plans to focus on stabilizing the business in the initial phase, followed by harmonizing operations and setting the stage for further growth. Greenhalgh and Rowe are methodically approaching the integration process, ensuring a smooth transition for both staff and customers, emphasizing the importance of maintaining a sense of belonging and support.
Notably, PetO’s expansion aligns with broader industry trends, where pet retailers are capitalizing on the emotional connection people have with their pets, driving increased spending on pet-related products and services. The pet retail landscape in Australia has seen notable developments, with Pet Circle receiving a substantial funding boost and PETstock, another major player, undergoing changes following the Woolworths acquisition.
As PetO charts its course for future growth and consolidation, the company remains focused on delivering value to its customers while navigating the evolving dynamics of the pet industry. With a clear roadmap for expansion and a commitment to customer satisfaction, PetO is poised to establish itself as a formidable player in the competitive pet retail sector.
📰 Related Articles
- Zoomark 2025 Showcases Global Pet Industry Growth and Innovation
- Vedanta’s $2 Billion Investment Boosts Saudi Copper Industry
- Vedanta’s $1.5 Billion Expansion Signals Industry Innovation
- Vancouver Dog Fashion Show Highlights Thriving Pet Apparel Industry
- UK Government Boosts Music Industry with £30 Million Investment