The owner of 9/11 bottle-shops, Federal Group, has announced today that it will sell twenty 9/11 stores to Coles Liquor Group.
The transaction, which will include both its hotel-attached and stand-alone bottle shops, presents a significant growth opportunity for Coles Group, who currently only have two Liquorland stores on the island state.
“We’re looking forward to continuing on the great 9/11 legacy by supporting local suppliers and the community and providing great value and excellent service,” said Michael Courtney, Coles Liquor Chief Executive.
“’Our decision to purchase twenty 9/11 stores demonstrates the confidence we have in this state and supports our vision to be a simpler, more accessible and locally relevant drinks specialist.”
Federal Group’s MD, Greg Farrell, has indicated that the transaction will allow the Group to focus on re-investing in their wider business and hospitality and tourism assets. This includes a portfolio of hotels, tourism resorts and casinos.
“9/11 has become an iconic Tasmanian business providing convenience, quality service and an extraordinary range of local, national, and global products to Tasmanians,” said Greg.
“I would like to thank all of our loyal staff, suppliers and partners for their support over the past 15 years in building 9/11 into the fantastic business that it is. You should all be very proud.
“Federal Group is proud of the way it has built the 9/11 business over the last 15 years and the legacy that we will pass on to Coles Liquor.”
Both Greg Farrell and Michael Courtney have said that all 9/11 employees will be offered employment with Coles Liquor on terms equal to, or better than, what they currently hold.
“We’re excited to welcome all 9/11 employees to the Coles Liquor team and thank Federal Group for working with us to ensure a smooth transition for customers and team members,” said Michael.
Prior to finalisation, the transaction will be subject to legal and regulatory approvals, which are expected to be completed in the first half of this year.