Federal Group, the owners of 9/11 bottleshops in Tasmania, has announced a deal with Coles Liquor Group, which will see all 20 of its stores across the state acquired by Coles Liquor.
While the transaction includes incorporates both hotel attached and stand-alone 9/11 stores, Federal Group’s Vantage Hotel Group will continue to own and operate the 12 current hotels.
Greg Farrell, Managing Director of the Federal Group, said that the transaction would allow the Group to focus on re-investing in their wider business and hospitality and tourism assets.
“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,” he said.
“9/11 has become an iconic Tasmanian business providing convenience, quality service and an extraordinary range of local, national, and global products to Tasmanians.
“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.”
Coles Liquor Chief Executive Michael Courtney said the business was keen to expand its network in Tasmania where it currently has two Liquorland stores.
“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,” Courtney said.
“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.
“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.”
The transaction is subject to legal and regulatory approvals and is expected to be completed in the first half of 2024 and all 9/11 employees will be offered employment with Coles Liquor on terms no less favourable than what they currently hold.