Federal Group plans to sell 20 of its 9/11 stores in Tasmania to Coles Liquor Group, including hotel-attached and stand-alone locations.
According to Michael Courtney, CEO of Coles Liquor, the purchase indicates the company’s confidence in its current form and supports Coles’ ambition of being a simpler, more accessible and locally relevant drinks specialist.
Following the sale, Federal Group plans to reinvest in its overall business, as well as its hotel and tourism assets. According to Greg Farrell, MD of Federal Group, this comprises a network of hotels, tourist resorts, and casinos.
All 9/11 employees will reportedly be offered employment with Coles Liquor.
The purchase will require legal and regulatory permissions before it is finalised, and Coles anticipates these will be obtained in the first half of this year.
Coles launched the first Liquorland store in Tasmania in August 2022, in tandem with opening its first new supermarket in the state in 12 years. The Glebe Hill Village features a selection of Tasmanian beverages, as well as Liquorland’s Tasmanian brands such as Beyond the Wilderness Wines and Pure Origin Vodka and Gin.