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Woolworths shareholders approve Endeavour Group restructuring

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Woolworths shareholders approve Endeavour Group restructuring

Woolworths Group Ltd. announced Dec. 16 that its shareholders agreed to merge its beverage and hospitality units, Endeavour Drinks and ALH Group Pty. Ltd.

The combined entity will be spun off and called Endeavour Group. As part of the process, Endeavour Drinks and its 75% stake in ALH will be transferred into a distinct legal entity within the group.

The Australian food retailer plans to implement the creation of Endeavour Group on Feb. 2, 2020. It will then merge the group with Bruce Mathieson Group's interests in ALH on Feb. 4, 2020.

Bruce Mathieson Group is Woolworths' joint venture partner in ALH.