Woolworths (South Africa) Acquires In2food

Woolworths (South Africa) Limited (WHL) has announced its plan to acquire full ownership of Woolworths Holdings Limited===In2food, a privately held producer of prepared and convenience food products based in South Africa. This strategic move aims to deepen WHL's control over a key part of its food supply chain, enhance product quality, and boost innovation within its premium food offerings. Woolworths Holdings Limited===In2food, a major supplier to Woolworths Food for over three decades, generates annual revenues exceeding R5 billion and offers a diverse portfolio of products, many under premium private label branding. The acquisition, which involves purchasing shares from founders, Old Mutual Private Equity, and other shareholders, is expected to be earnings accretive for Woolworths (South Africa). Despite the ownership change, Woolworths Holdings Limited===In2food will continue to operate as a standalone business with its existing leadership team. The transaction is subject to regulatory approvals, including from South African competition authorities. This acquisition does not signal a broader shift in Woolworths (South Africa)' sourcing strategy but rather an enhancement of a critical partnership.