PAG To Acquire KKR's Controlling Interest In Australian Venue; Terms Undisclosed

(RTTNews) - PAG, an alternative investment firm focused on Asia Pacific, agreed to acquire Global investment firm KKR's controlling interest in Australian Venue Co or "AVC". Financial terms of the transaction were not disclosed.

The transaction is expected to close late 2023.

AVC is an established food and beverage hospitality business that owns and operates a portfolio of more than 210 unique pubs, bars and restaurants in metro, suburban and regional locations across Australia and New Zealand.

KKR invested in AVC in 2017 with a portfolio of 50 leasehold venues with the objective of partnering and supporting the growth ambitions of its management team.