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Derek Rose

MYSTERIOUS: Woolworths buys majority stake in petstock | Mind Blowing Facts

Woolworths Brad Banducci

Woolworths says its 'very keen to engage' in the speciality pet business, paying $586m for a stake. (Diego Fedele/AAP PHOTOS) (AAP)

Woolworths is getting into the specialty pet business, agreeing to pay $586 million for a 55 per cent stake in the owner of the PETstock chain of 276 retail stores.

Petspiration Group also owns the ecommerce platform Pet.co.nz, has a 2.4 million member loyalty program, and an own-brand range including Caribu and Glow.

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