- Companies
- Australian Venue Co
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
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
Website
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.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 24 Aug 2023 | PE buyout | $906M |
Australian Venue Co Funding History
Australian Venue Co has 1 recorded secondary share sale and no primary funding rounds.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| Aug 2025 | Secondary | CVC 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
| Investor | HQ | Rounds | Role | First 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 TrialInvestments 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
| 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 Country | |
| HQ City | Melbourne |
| Deal Date | 31 May 2019 |
| Round | Seed |
| Raised | $1M |
| Investors | - |
| Valuation | undisclosed |
| 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2B | $791M | $899M | 1.1x | ||
| Publicly listed | $271M | $42M | $886M | 3.6x | ||
| Private | - | - | $928M | - | ||
| Publicly listed | $1.6B | $95M | $871M | 0.7x | ||
| Private | - | - | $944M | - | ||
| Publicly listed | $3.5B | $193M | $978M | 0.6x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2B | $791M | 1.2x | 1.1x | 3.0x | 7.0x | |||
| $271M | $42M | 3.9x | 3.6x | 25.4x | 27.4x | |||
| $1.6B | $95M | 0.7x | 0.7x | 12.1x | 11.8x | |||
| $3.5B | $193M | 0.6x | 0.6x | 10.6x | 15.9x | |||
| $751M | $89M | 1.1x | 1.2x | 9.7x | - | |||
| $679M | ($68M) | 1.5x | 1.5x | (15.1x) | (45.1x) | |||
| $2.9B | $358M | 0.9x | 0.9x | 7.2x | 8.0x | |||
| $36M | $1M | 10.2x | - | 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. |
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