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Wesfarmers took control of Coles on 23 November 2007, after paying almost $20 billion for the company. Wesfarmers had already purchased 13 per cent of the retailer in April. [31] [32] Coles is a national supermarket, department store. liquor, fuel and convenience retailer in Australia.
The independent expert report published in October 2007, advising shareholders preparatory to the proposed sale was critical of the culture within Coles Group. [28] At a shareholder meeting in Melbourne on 7 November 2007, shareholders voted overwhelmingly with 99.25% approval of the sale of Coles Group to Wesfarmers. [29]
Between 1986 and 2006, Coles Supermarkets was a brand of Coles Myer, later Coles Group, prior to Wesfarmers purchasing Coles Group in 2007. It became a subsidiary of Coles Group again after Wesfarmers spun-off the business in November 2018. [6] In 2020, Coles changed its slogan to "Value the Australian way".
The move comes more than a decade after Wesfarmers bought Coles, discount chains Kmart and Target, and the Officeworks business supplies chain for A$21 billion ($16 billion) in what was then ...
Coles planned to keep some Bi-Lo lines in its re-branded stores. Re-branding Bi-Lo stores began later in 2006 and had been expected to be completed by mid-2007. A small number of stores were to be re-branded Coles Discount Grocery where a Coles Supermarket already existed in the same complex (for example, at Westfield Fountain Gate).
The first re-branded store was planned to open in 2007, and 40 stores were planned to be made into Coles Superstores, these mostly being former "Super K" stores which had been divided into separate Coles and Kmart stores a decade earlier. By March 2007, the plans for these superstores were deferred pending the sale of Coles Group to Wesfarmers ...
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