Wesfarmers to set up three retail divisions.

Australasian Business Intelligence, July, 2007

Byline: Bruce Atkinson

Jul 16, 2007 (Inside Retailing - ABIX via COMTEX) -- Wesfarmers has outlined how it intends to integrate the operations of the Coles Group into its existing retail business. Coles' supermarket, liquor and petrol businesses will form one unit, its Target and Kmart chains a second, while Coles' Officeworks will be combined with Wesfarmers' Bunnings hardware chain. The merger of the two firms creates an entity worth around $A40 billion, with Coles shareholders to end up with about 44 per cent of Wesfarmers' shares. John Fletcher, the CEO of Coles, was criticised for too much delegation, and there is a view that Richard Goyder, the CEO of Wesfarmers, will need to be much more "hands-on".

Publication Date: 9 July 2007...

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