Wesfarmers have bought the coles group. Is this a good or bad thing? Will they turn around Coles’ bad management? Can they compete with supermarket legend Woolworths?
Background Info:
Wesfarmers is one of Australia’s largest public companies and in 2006 was the 4th largest private sector employer in Western Australia. But guess what? Wesfarmers has now bought the Coles Group retail chain for A$22 billion making it the largest successful take-over in Australian corporate history.The sale is expected to be completed in October 2007 and Wesfarmers will become Australia’s largest retailer and Australia’s largest private sector employer. The deal gives Wesfarmers control of over 165,000 employees spread across more than 3000 retail sites, including 750 Coles supermarkets, 182 Kmart stores, 840 liquor shops, 260 Target stores, 108 Officeworks stores and 870 petrol stations and auto centres.
As the company took over, share prices of both Wesfarmers and the Coles Group fell. Investors lie weary of the takeover because of the massive job of them ahead to turn around Coles and keep up with their market leader and rival Woolworths.
Why Do I Care?
Well I have currently been working with Coles for the last 6 months. I’m a member of flybuys and have recently obtained my Coles discount card which I has already saved me around $100 in shopping bills. Through this blog I’m going to post about the changes around coles and Wesfarmers new enterprise that I notice while working. Let’s see how good a job they actually do turning this joint around
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Hi! I'm an 19 year old aussie guy in NSW, Australia currently studying a Bach. Commerce. On this site I blog about stuff, How cool is that! No seriously though, you should read this stuff, its pretty good.
4 Users Responded In This Post
I’ve got good news for you: Wesfarmers are one of the best companies you could work for. They know how to look after their people. Also as a customer you’ll experience lower prices and a better offer, with more products and better service.
Sounds good, we’ll see in time if they do the coles brand good. Where do you work? Or are you the CEO of westfarmers?
I work at woolworths….haha we own! doesnt matter who owns coles..there bound to FAIL..sry..but true
Coles wesfarmers are a pack of pricks….
they bully staff around and exploit people who are not familiar with the award.
its only a matter of time until they end up fronting the industrial comission.
pig bastars
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