Australian Venue Co Acquisition & Valuation

Australian Venue Co was acquired by PAG for $906M in August 2023.

Australian Venue Co acquisition price

$906M

Acquired by PAG · Aug 2023

Key investors in Australian Venue Co

Australian Venue Co Overview

About Australian Venue Co

Australian Venue Co is a hospitality group managing a portfolio of landmark restaurants, bars, and event spaces in Sydney and Melbourne. The company operates 17 venues including The Baxter Inn, Mary's Newtown, and Arbory Bar & Eatery, attracting over one million patrons annually. It hosts events from corporate functions to weddings, with capacities up to 1,000 guests. Headquartered in Sydney, Australian Venue Co emphasizes Australian produce in its menus across Italian, Mexican, and modern Australian cuisines.


Founded

2012

HQ

AustraliaMelbourne

Status

Acquired

Customer focus

B2C

Revenue model

Product sales

Valuation

$906M (acquired Aug 2023)

Australian Venue Co Acquisition

Australian Venue Co was acquired by PAG for $906M on 24 August 2023.

Australian Venue Co (AVC) owns and operates over 210 pubs, bars, and event venues across metro, suburban, and regional locations in Australia and New Zealand, establishing it as one of the largest food and beverage-led hospitality groups in the country. PAG, a leading Asia Pacific-focused alternative investment firm, signed definitive agreements in 2023 to acquire KKR’s controlling interest in AVC for undisclosed financial terms, following KKR’s initial 2017 investment of A$150 million that grew to about A$500 million total through portfolio expansion from 50 to over 210 venues. The transaction, advised by Jefferies and Allens for KKR/AVC and BofA Securities and Ashurst for PAG, included acquisition financing from KKR Capital Markets and was expected to close late 2023 subject to regulatory approvals; King & Wood Mallesons later advised PAG on debt financing. PAG views AVC as a proven market leader with an exceptional management team and iconic venues, aiming to support its next growth stage amid Australia’s expanding consumer sector, building on PAG’s prior investments like Craveable Brands (2019, ~A$500 million), The Cheesecake Shop, and the 2022 A$550 million integration of Patties Foods and Vesco Foods. A prior potential sale to BGH Capital collapsed in early 2023 over pricing disputes, with KKR reportedly seeking A$1 billion. Lincoln Pan, PAG Partner and Co-Head of Private Equity, emphasized partnering to strengthen AVC’s unique offerings. Post-acquisition, PAG sold a significant stake in AVC to CVC in 2025, resulting in PAG and CVC co-controlling the business alongside management retaining substantial ownership; by then, AVC’s portfolio exceeded 240 venues, underscoring sustained investor confidence in defensive consumer hospitality amid market dynamics.

Australian Venue Co acquisition details
AcquirerDateTypePrice
  • PAG
24 Aug 2023PE buyout$906M

Australian Venue Co Funding History

Australian Venue Co has 1 recorded secondary share sale and no primary funding rounds.

Australian Venue Co funding rounds
DateStageInvestorsDeal Summary
Aug 2025SecondaryCVC Capital Partners (lead)CVC Capital Partners Asia VI acquired a 45% stake in Australian Venue Co from majority owner PAG. Following the transaction PAG and CVC each held 45%, with management holding the balance. AVC operates 243 licensed venues across Australia and New Zealand, mainly pubs alongside bars and licensed restaurants. Financial terms were not disclosed.

Who has invested in Australian Venue Co?

1 investor has backed Australian Venue Co across its funding rounds, including CVC Capital Partners.

Lead investors include CVC Capital Partners.


Australian Venue Co Investors

Investors in Australian Venue Co by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 Australian Venue Co investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Investments by Australian Venue Co

Australian Venue Co has invested in 1 company to date.

Latest investment by Australian Venue Co was on May 31st 2019. Australian Venue Co invested in Mr Yum in their $1M Seed round.


Latest Investments by Australian Venue Co

Mr Yum
Description
Mr Yum is a Collingwood-headquartered mobile ordering platform founded in 2018 for table service, pickup, and delivery in Australia. The system features visual menus, marketing tools, and customer analytics including the Boomerang loyalty program for gift vouchers, free items, and discounts. It serves venues in restaurants, shopping centers, movie theaters, and airports.
HQ CountryAustralia
HQ City
Melbourne
Deal Date31 May 2019
RoundSeed
Raised$1M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Australian Venue Co investments and their VC round multiples.

Start Free Trial

Australian Venue Co Competitors

Australian Venue Co competitors include listed companies like GL Events, Westlife Foodworld, Kura Sushi and Cracker Barrel, and private ones like Wangjiahuan and Premiership Rugby.

Public and private companies comparable to Australian Venue Co
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GL EventsFranceFrancePublicly listed$2B$791M$899M1.1x
Westlife FoodworldIndiaIndiaPublicly listed$271M$42M$886M3.6x
WangjiahuanChinaShenzhenPrivate--$928M-
Kura SushiJapanJapanPublicly listed$1.6B$95M$871M0.7x
Premiership RugbyUnited KingdomLondonPrivate--$944M-
Cracker BarrelUnited StatesUnited StatesPublicly listed$3.5B$193M$978M0.6x

Australian Venue Co Public Comps

Australian Venue Co is no longer listed, but its public comps include GL Events, Westlife Foodworld, Kura Sushi, Cracker Barrel, Ohsho Food Service, Sweetgreen, Wetherspoons, Funshine Culture Group, Grupo CIE and Domino's Pizza Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GL Events$2B$791M1.2x1.1x3.0x7.0x
Westlife Foodworld$271M$42M3.9x3.6x25.4x27.4x
Kura Sushi$1.6B$95M0.7x0.7x12.1x11.8x
Cracker Barrel$3.5B$193M0.6x0.6x10.6x15.9x
Ohsho Food Service$751M$89M1.1x1.2x9.7x-
Sweetgreen$679M($68M)1.5x1.5x(15.1x)(45.1x)
Wetherspoons$2.9B$358M0.9x0.9x7.2x8.0x
Funshine Culture Group$36M$1M10.2x-263.3x-

This data is available for Pro users. Sign up to see all Australian Venue Co competitors and their valuation data.

Start Free Trial

Common questions about Australian Venue Co

When was Australian Venue Co founded?Australian Venue Co was founded in 2012.
Where is Australian Venue Co headquartered?Australian Venue Co is headquartered in Melbourne, Australia.
Is Australian Venue Co publicly listed?No, Australian Venue Co was acquired by PAG in August 2023.
Who acquired Australian Venue Co?Australian Venue Co was acquired by PAG in August 2023.
How much was Australian Venue Co acquired for?Australian Venue Co was acquired for $906M in August 2023.
Who are Australian Venue Co's investors?Australian Venue Co's investors include CVC Capital Partners.
Which companies are comparable to Australian Venue Co?Companies comparable to Australian Venue Co include GL Events, Westlife Foodworld, Wangjiahuan, Kura Sushi, Premiership Rugby and Cracker Barrel.
How many companies has Australian Venue Co invested in?Australian Venue Co has invested in 1 company, including Mr Yum.
What was Australian Venue Co's last investment?In May 2019, Australian Venue Co invested in Mr Yum's $1M seed round.

See companies similar to Australian Venue Co

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial