Coles Liquor will acquire 20 9/11 bottle shops from Federal Group in Tasmania, including hotel attached and stand-alone stores. Coles Liquor currently only has two Liquorlands in the state.
Federal Group’s Vantage Hotel Group will continue to own and operate the 12 hotels that are affected by the 9/11 sale.
Coles Liquor chief executive, Michael Courtney, said the business was keen to expand its network in Tasmania.
Coles opened its first Liquorland in the state in August 2022.
“’Our decision to purchase 20 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 looking forward to continuing the great 9/11 legacy by supporting local suppliers and the community and providing great value and excellent service.
“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,” Courtney said.
Federal Group MD, Greg Farrell, said the sale would free up the group to focus on its hospitality and tourism assets including hotels, 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.
“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,” Farrell said.
Employees will be offered employment with Coles Liquor on terms no less favourable than what they currently hold. The transaction is subject to legal and regulatory approvals and is expected to be completed in the first half of 2024.
