Woolworths (ASX:WOW) share price down as it savours potential Oakridge Wines purchase

The Woolworths Group Ltd (ASX: WOW) share price is down today as the Australian Financial Review (AFR) reports the retailer is looking to purchase Oakridge Wines.

As of writing, the Woolworths share price is down 0.41% to $38.74. In comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.23% lower.

Endeavour Group wants Oakridge

Woolworths’ Endeavour Group, which the company will spinoff later this year, is looking to purchase the La Trobe Valley winemaker as it faces increasing competition. Endeavour, which is both a producer and seller of wine, wants to strengthen its wine portfolio. The group’s range of wine brands…