THE tavern in Two Rocks is under new management after having been bought by ALH Group, which is a subsidiary of Woolworths Group undergoing its own change.
Yesterday ALH Group spokesman David Curry said the company had acquired Tavern @ The Rocks and looked forward to it being a great local pub in the community.
“We plan to refresh parts of the pub in the short term,’’ he said.
One of the managers at Tavern @ The Rocks Fiona Garde said they wanted to create a great family-friendly venue with a variety of daily food specials.
The tavern with balconies overlooking the Two Rocks marina has a main bar, dining areas, a TAB in the upstairs sports bar and a beer garden.
ALH Group operates more than 300 licensed venues and more than 550 retail liquor outlets across Australia and says it is committed to responsible gambling in its venues.
In 2018 the UFC named ALH Group as the official home of UFC in Australia.
This year in July Woolworths Group announced it was combining its Woolworths drink business and ALH Group to create Endeavour Group.
Woolworths (through Endeavour) will acquire Bruce Mathieson Group’s (BMG) interest in ALH in exchange for issuing BMG with a 14.6 per cent shareholding in Endeavour.
Upon completion of the ALH Merger, Endeavour will be 85.4 per cent owned by Woolworths and 14.6 per cent owned by BMG.
When the merger is complete Woolworths Group said it would create Australia’s biggest integrated drinks and hospitality business with sales of about $10 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) of $1 billion.
“Endeavour Group will have leading market positions, strong cash flow to fund investments in growth and an attractive and resilient revenue and earnings profile,’’ a statement said.
“It will comprise highly integrated store-based and online offerings, with over 1500 BWS and Dan Murphy’s retail drinks outlets and 327 ALH hotels.
“ALH retail drinks outlets currently comprise about 35 per cent of Woolworths Group retail drinks sales with 86 Dan Murphy’s and 512 BWS stores owned by ALH at the end of March.”
Other businesses to be included in the merger include Endeavour Drinks’ own and exclusive brands business, Pinnacle Drinks, Langton’s, a fine wine auction and retail business, Cellarmasters – a wine subscription business, and an 8.7 per cent stake in ALE Property Group.
But following the merger Endeavour Group will be separated from Woolworths Group through a demerger or other value-accretive alternative, which is expected to take place next year.
The separation will allow Woolworths Group to benefit from a simplified organisational structure, a greater focus on its core food and everyday needs markets and opportunities to continue to build out the Woolworths Group “retail ecosystem”.
Separation will also allow Endeavour Group to realise its full potential through business simplification and efficiencies with greater access to capital to pursue investment and growth, while retaining the benefits of a strong partnership with Woolworths Group.
The statement said BMG would maintain board representation in the event a demerger eventuated.
Woolworths Group said it expects to retain a minority holding in a demerged Endeavour Group reflecting the importance of the ongoing partnership.