CVC Capital Partners has acquired a 45% stake in Australian Venue Co (AVC), one of Australia’s largest pub and hospitality operators, in a deal that will see the private equity firm partner with existing majority owner PAG to fuel the company’s next phase of expansion.
The transaction restructures AVC’s ownership, with CVC Capital Partners Asia VI and PAG each holding equal 45% stakes, while management retains the remaining 10% equity in the business.
AVC operates 243 licensed venues across Australia and New Zealand, primarily traditional pubs, along with bars and licensed restaurants. The company has built a reputation as one of the country’s premier hospitality operators, attracting interest from major private equity players seeking exposure to the resilient pub sector.
“The combination of CVC and PAG as owners will allow the company to meet its growth strategies to revamp existing premises and deliver better customer experience while also funding new opportunities in major population centres,” said AVC Chief Executive Paul Waterson.
The deal provides AVC with additional capital to pursue ambitious expansion plans, including renovating existing properties and identifying new opportunities in high-growth markets.
Richard Blackburn, Head of CVC Australia, praised AVC’s operational excellence and customer offering. “We have long admired AVC and viewed it as best in class both in terms of its customer offering and operations,” he said. “We’re excited to be partnering with a truly exceptional management team and with PAG to support the next phase of growth for AVC.”
PAG Managing Director Sid Khotkar characterised the partnership as beneficial for both private equity firms and AVC’s continued development: “We work to invest in strong businesses in Australia and help make them even stronger. This agreement is a testament to that approach and AVC’s great success. We are happy to partner with CVC on this next exciting phase for Paul and the team.”
AVC’s existing management team will remain in place to execute the company’s growth strategy under the new ownership structure.
