"Was always going to be hard for Goyder to fill Chaney's shoes,...

"Was always going to be hard for Goyder to fill Chaney's shoes, but this is a great start. WES is still a great long-termer."


WES basically paid for Coles the same (historical) earnings multiple that WOW are trading at, approx 25.
However, Coles will require investment, but on the credit side, it has upside as far as profitability goes.
If WES achieve anywhere near the kind of profitability WOW do (phenomenal ROFE of 40%+) there is potential to add a lot of value long-term.

What happens to WES share price short-term is immaterial (besides, I dont believe that anyone value a stock to within +/- 20% with any certainty).
What is important is that WES will now have a good asset which had been previously mismanaged to get their teeth into.
The future is assured as far as buying WES with confidence is concerned.

Better still, it now pays to own both WOW & WES.
Both are good operators, and you will know that no matter whether people buy SHELL petrol or Caltex Petrol or shop at Coles, Bi-lo, Bunnings, Target, K-Mart, Officeworks, Liquorland, Safeway, D1ck Smith, Dan Murphys etc you GET A CUT.

You have the Australian consumer completely surrounded ... hehehe