Woolworths Group has announced plans to spin off its drinks and hospitality operations, Endeavour Drinks and the ALH Group.
Creating a new entity, Endeavour Group
Woolworths Group will combine Endeavour and ALH to form Endeavour Group Ltd. The new entity will combine the 1,500+ BWS and Dan Murphy’s drinks outlets and 327 ALH pubs and hotels, as well as the Pinnacle Drinks, Cellarmasters, and Langton’s businesses.
Woolworths will retain minority ownership
Woolworths is expected to retain minority ownership of the new business. Woolworths’ joint venture partner in ALH, Bruce Mathieson Group, will receive a 14.6% stake in Endeavour Group.
As part of the changes, David Marr, Chief Financial Officer of Woolworths Group, will move to the new role of Chief Operating Officer. Marr will mainly be responsible for overseeing the merger and spinoff. While Stephen Harrison, currently Finance Director of Australian Food, will take over as Woolworths Group CFO from 1 August.