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Endeavour Group Limited
Endeavour Group runs liquor stores and pubs across Australia, selling drinks to take home and serving food and drinks in its hotels.
Endeavour Group is Australia's biggest drinks and hospitality business, and it comes in two halves that most customers never think of as one company. One half is retail: bottle shops like Dan Murphy's and BWS, where people buy wine, beer and spirits to take home. The other half is hotels: pubs and venues where people go for a meal, a drink, a bet or a night out.
The retail side is the money machine. Dan Murphy's is the big-format warehouse-style store known for low prices and huge range, while BWS is the smaller convenience chain attached to local pubs and shopping strips. Together they give Endeavour a national footprint that few rivals can match, and scale matters in liquor retail because bigger buying power means better prices from suppliers and thinner costs per bottle sold. The company also runs a growing online business, so customers can order a case of wine the way they'd order a pizza. The hotels side is messier but strategically clever. Endeavour owns a large portfolio of pubs and venues, which earn money from food, drinks, accommodation and, notably, poker machines. Those gaming machines are a steady, high-margin cash stream — and also the company's biggest political and regulatory risk, as gambling reform debates in Australia regularly put them in the crosshairs. The pubs also serve as real estate for BWS stores, so the two segments feed each other.
Endeavour was spun out of Woolworths Group in 2021, separating the supermarket giant's drinks and pubs arm into its own listed company. It competes with Coles Group on liquor retail and with a crowd of private pub operators and hotel groups on hospitality. It pays out a large share of its profits as dividends, which is a big part of why investors own it. The simple version: it sells drinks at scale, runs the pubs where Australians socialise, and collects reliable cash from both — while keeping a nervous eye on politicians who want to change how gambling works.
Saved answer · last researched 12 Nov 2026