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Transforming Woolworths Group for success in the new era of retail

The retail industry is changing rapidly. At Woolworths Group, we are embracing this change and the benefits that we know it will bring for our customers

On 3 July 2019, Woolworths Group announced its intention to combine the Woolworths Drinks Business and ALH Group to create Endeavour Group. 

Click here to view the 3 July 2019 ASX announcement

The creation of Endeavour Group will be enabled by the Restructure, which is the internal reorganisation through which certain assets and liabilities of the Woolworths Drinks Business, as well as Woolworths’ 75% ownership interest in ALH, are transferred into a distinct legal entity within Woolworths. 

Following the Restructure, Woolworths will seek to complete the ALH Merger, whereby Woolworths (through Endeavour) will acquire Bruce Mathieson Group's (BMG) interest in ALH in exchange for issuing BMG with a 14.6% shareholding in Endeavour. Upon completion of the ALH Merger, Endeavour will be 85.4% owned by Woolworths and 14.6% owned by BMG. The ALH Merger does not require shareholder approval and is expected to proceed if the Restructure occurs.

Subsequent to the Restructure and ALH Merger, Woolworths intends to separate Endeavour Group through a demerger or other value accretive alternative. Woolworths currently intends to seek shareholder approval for this at an appropriate time in the future.

Shareholders approved the Restructure Scheme Resolution at the Restructure Scheme Meeting held on 16 December 2019. Subsequently, the Federal Court approved the Restructure Scheme at a hearing held on 19 December 2019.

Woolworths intends to implement the Restructure Scheme to combine its drinks and hospitality business to create Endeavour Group on 2 February 2020. Woolworths will then implement the ALH Merger to combine Endeavour Group with BMG's interest in ALH on 4 February 2020.

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