Despite the change of owner, AVC chief executive Paul Waterson will stay on – as will the rest of the management team. PAG was advised by Bank of America.
Despite the change of owner, AVC chief executive Paul Waterson will stay on – as will the rest of the company’s management team. And PAG’s plan sounds remarkably similar to the current strategy – a mix of acquisitions, better use of underutilised space and organic growth.
AVC was slated to make $195 million in adjusted earnings before interest, tax, depreciation and amortisation this year. That’s well above the $112 million forecast in the 2021 pathfinder prospectus. PAG – which has Melbourne dealmaker Sid Khotkar on the ground – has been increasingly active in Australia in the food category, last year acquiring
which makes Australia’s biggest selling meat pie brand, Four’N Twenty. It more recently acquired chicken shop chain, Chargrill Charlie’s, via its Craveable Brands portfolio company. AVC now operates 210 venues in Australia and New Zealand, and is the second-largest pubs group behind
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