The competition watchdog has approved the acquisition of Australia’s largest energy retailer by international funds giant Brookfield and its consortium partner MidOcean.

While wealth has been increasing, retail spending has trended flat for a year now. That’s despite prices rising, indicating we’re buying less overall, it’s just costing us more. 

Former supermarket boss Bill Wavish, who is seeking a seat on the board of Endeavour Group, has accused the pub and retail giant of a “complete absence of operating cost discipline,” excessive debt and “confusing branding.”

Major shareholder Solomon Lew is happy with the shakeup, as Qantas’ loyalty business boss Olivia Wirth and Ardent Leisure chairman Dr Gary Weiss look to land on the retailer’s board.