Acquirer(s)

  • Endeavour Group Limited

Target(s)

  • Prince Consort Hotel

Summary

Endeavour Group Limited (Endeavour) proposes to acquire the Prince Consort Hotel and associated bottle shop, Prince Cellars, located at 220-230 and 234 Wickham Street, Fortitude Valley in Queensland.

Endeavour is a major Australian alcoholic drinks retailer and hotel operator. It operates two hotels (the Brunswick Hotel and Hello Gorgeous) within 2km of the Prince Consort Hotel. Endeavour also operates 9 bottle shops within 1.5 km of Prince Cellars at the Prince Consort Hotel, and 7 liquor stores within a 1 km radius of Prince Cellars, including BWS Valley Central and BWS Fortitude Valley within 300 m of Prince Cellars.

The Prince Consort Hotel consists of the hotel which offers on-premises food and beverage consumption, live music and entertainment, gaming and wagering, function services and an attached bottle shop, Prince Cellars.

Competition analysis

The ACCC published a Statement of Issues outlining preliminary competition concerns in relation to the proposed acquisition.

On 9 April 2024, the ACCC discontinued its public review after Endeavour advised that the proposed acquisition would not be proceeding.

Market inquiries

Statement of issues

Timeline

Date Event

ACCC commenced review under the Merger Process Guidelines.

Closing date for submissions.

ACCC published a Statement of Issues outlining preliminary competition concerns.

Closing date for submissions relating to Statement of Issues.

Timeline suspended pending receipt of information from Endeavour. Former provisional date fro announcement of ACCC's findings (21 March 2024) is delayed. The ACCC will announce a proposed decision date in due course.

ACCC discontinued its public review after Endeavour advised that the proposed acquisition would not be proceeding.