Woolworths set to sell stake in Endeavour Group for $636 million

Australian supermarket giant Woolworths Group is selling a $A636 million stake in Endeavour Group in a block trade, according to a term sheet seen by Reuters.

Woolworths spun off Endeavour Group – its then drinks and hotels business – in mid 2021 and the company has since grown strongly on its own.

In October, the group – which owns Dan Murphy’s, BWS and 344 hotels and clubs – reported sales grew 3.1 per cent to $3.02 billion for the 14 weeks to October 2.

It said sales across its retail and hospitality businesses were booming during the quarter as the business cycled the impact of Covid-related disruptions.

Woolworths and Endeavour did not immediately respond to a request for comment from Reuters, which was sent outside of normal Australian business hours.

* Additional reporting by Scott Murdoch in Sydney, of Reuters.