ALE Property Group (ASX:LEP) is Australia's largest listed freehold owner of pubs. Established in November 2003, ALE owns a property portfolio of around 86 pubs across the five mainland states of Australia. All of the pubs in the portfolio are leased to members of Australian Leisure and Hospitality Group Limited (ALH) for an average initial term of around a further 14 years.

ALH is owned by a joint venture (ALH Group); 75% is controlled by Woolworths Limited, Australia's leading retailer and the remaining 25% by one of Australia's leading hoteliers, the Bruce Mathieson Group (BMG). ALH Group, through its ownership of MGW, BMG and Taverner is Australia's leading pub operator.

Woolworths is Australia's leading liquor retailer. Its operations include Woolworths Liquor, Dan Murphys and BWS.