Directors’ Trades: Which pub baron bought $54m+ more shares in their ASX company?
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The biggest director trade on the ASX in the past fortnight came from one of Australia’s most famous pub barons – Bruce Mathieson of Endeavour Group (ASX:EDV).
Mathieson is 63rd on the Top 200 rich list with a net worth of $1.54 billion. Endeavour is a spin-off from Woolworths (ASX:WOW) – including retail brands BWS and Dan Murphys as well as delivery service Jimmy Bring’s – and a pub portfolio that consists of 30% of pubs across Australia.
He’s been in business since 1974 but partnered with Woolworths since 2000.
Woolworths formed a joint venture in Queensland called MGW Hotels. In 2004 the entity bought ALH Group just a year after it listed on the ASX and changed its name to ALH.
Over the next 15 years the group extended its ownership to 330 venues until in 2019 a deal was sealed to merge the alcohol retailers of Woolworths and ALH.
Mathieson bought $54.6m of shares earlier this month in a deal that took him to owning 15% of the company.
Yes, the same Michelle Guthrie who was managing director of the ABC. She’s been on the board since late 2019 and also is a board member of BNK Bank (ASX:BBC) and game developer Mighty Kingdom (ASX:MKL).
There were several big sales this week. The biggest was made by James Kelly of Lifestyle Communities (ASX:LIC) who sold $43 million on market.
Kelly said the sale was to rebalance his portfolio and assist with liquidity in the market.
Several other sales came after exercising performance rights or options.
And Liontown (ASX:LTR) director Stephen Chadwick sold over $2 million in shares, although one other reason he listed was to take up shares in Minerals 260 – a spin off of Liontown’s gold, nickel and copper assets.