Morningstar

Coles Ends Talks With TPG to Acquire Greencross Pet Wellness

Provided by Dow Jones Jul 16, 2026, 10:50:00 PM

By David Winning

SYDNEY--Coles Group said on Friday that it has ended talks to acquire Greencross Pet Wellness Co. from private-equity firm TPG Inc. some weeks after beginning due diligence on a deal.

"Coles applies a disciplined approach to acquisitions, and as one of Australia's leading retailers, regularly assesses strategic opportunities that may complement its existing business," the company said in a regulatory filing.

Coles, which has a market value of around $21.20 billion, had told its investors on July 1 that a deal was being discussed with TPG.

TPG completed the acquisition of Greencross, which owns vet clinics and pet shops, in February 2019 for some A$675 million.

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

July 16, 2026 18:50 ET (22:50 GMT)

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