Processing timeline
25
days
Acquirer(s)
AVC Operations Pty Limited ABN - 81 607 832 299
Target(s) or Vendor(s)
Sherilyn Pty. Limited as trustee for Solotrust Unit Trust ABN - 70 075 074 930, Barangaroo Pty Limited as trustee for Barangaroo Trust ACN - 604 221 801, Newington Nominees Pty Limited as trustee for Newington Trust ACN - 602 630 302, Mash Barangaroo Pty. Limited as trustee for The Mash Barangaroo Trust ACN - 606 824 300, Ersko Pty Limited as trustee for The Ersko Trust ACN - 152 205 251
Other parties
None listed
Australian Venue Co. Holdings Limited, via its subsidiary AVC Operations Pty Limited, completed an asset acquisition of four licensed venues in metropolitan Sydney. Solotel Group entities and Matt Moran sold Public House Petersham, The Erko, The Golden Sheaf, and Barangaroo House, operating in the pubs, taverns, and bars sector.
AVC Operations Pty Limited ( AVC ), a subsidiary of Australian Venue Co. Holdings Limited, proposes to acquire substantially all of the assets (including the exclusive right to carry on the businesses in succession of the vendors) of four venues in NSW pursuant to two interdependent transactions: (a) Three Asset Sale Agreement: acquiring Public House Petersham, The Erko, and The Golden Sheaf; and (b) Barangaroo Asset Sale Agreement: acquiring Barangaroo House. AVC operates licensed venues throughout Australia and New Zealand, primarily pubs, as well as bars, clubs and licensed restaurants. AVC's venues are individually branded and are predominantly located in inner-city and metropolitan areas, offering a range of products and services including food, alcoholic and non-alcoholic beverages, function rooms, live entertainment and gaming facilities. The four venues are: Public House Petersham: pub in Petersham; The Erko (Erskineville Hotel): hotel in Erskineville with food and accommodation; The Golden Sheaf: pub and late-night venue in Double Bay; and Barangaroo House: three-level dining venue in Barangaroo. Public House Petersham, The Erko, and The Golden Sheaf are owned by Solotel Group entities, which operates 27 licensed venues across Sydney, Parramatta, and Brisbane. Barangaroo House is co-owned by Solotel Group and Matt Moran.