Alternative investment firm focused on Asia Pacific, PAG will acquire KKR’s controlling interest in Australian Venue Co. or AVC.
AVC is an established food and beverage hospitality business that owns and operates a portfolio of more than 210 pubs, bars and restaurants in metro, suburban and regional locations across Australia and New Zealand.
Financial terms not yet disclosed.
KKR invested in AVC in 2017 with a portfolio of 50 leasehold venues. This collaboration has resulted in venue growth of more than 300%.
The transaction is expected to close in late 2023.
