Take context from the input text and decide on the accurate relationship between 'COLES supermarkets' and 'Wesfarmers' from the options provided.
Options: subsidiary, distribution format, owned by, publisher

COLES supermarkets owner Wesfarmers has lifted its underlying profit 8.3 per cent to $2.44 billion and increased its final dividend six cents to $1.11 per share.
owned by