Woolworths Group has agreed to sell its remaining 4.1% stake in Endeavour Group (ASX:EDV) through a block trade at $5.23 per share, generating $383 million.
The proceeds will be used to acquire the remaining 35% of PFD Food Services.
Woolworths also confirmed that it holds no undisclosed information that could materially impact the price or value of Endeavour Group securities.
Endeavour Group is an ASX-listed company, which is engaged in the retail drinks and hotels business. The company’s segments include retail, hotels, and others.
The sale comes after the Australian supermarket chain reported total sales of $67.92 billion for FY24, a 5.6% increase from $64.29 billion in FY23.
E-commerce sales reached $7.9 billion, up 18.5%, with online penetration rising to 12.5%, driven by WooliesX.
Woolworths Group has grown into one of Australia and New Zealand's most prominent retailers. The company operates an extensive network of supermarkets, liquor stores, and general merchandise outlets, serving millions of customers every day. With a workforce of approximately 215,000 employees, Woolworths Group remains a cornerstone of the retail sector in Australia and New Zealand.