Key Takeaways
- Sector: Retail.
- Geography: Australia.
Analysis
On August 1, 2025, CVC Capital Partners Asia VI acquired a substantial 45% stake in the Australian Venue Co (AVC). This private equity fund, managed by CVC Capital Partners, will join PAG, a leading Asia Pacific-focused alternative investment firm, as a significant shareholder in AVC. This partnership will support AVC, one of Australia's largest owners of pubs, bars, and hotels, during its next stage of expansion.
The acquisition will be instrumental in fuelling the next round of growth for AVC, which currently operates 243 licensed venues, primarily across Australia and New Zealand. PAG and CVC Capital Partners Asia VI will now each own an equal 45% stake in AVC, with the remaining equity held by management.
AVC Chief Executive, Paul Waterson, expressed his optimism about the deal, stating that it would provide the company with the additional funding required for its ambitious growth plans. Waterson believes that the combination of CVC and PAG as owners will enable the company to revamp its existing premises, deliver an enhanced customer experience, and fund new opportunities in major population centres.
Richard Blackburn, the Head of CVC Australia, shared his excitement about partnering with AVC's exceptional management team and PAG. Blackburn said, "We have long admired AVC and viewed it as best in class both in terms of its customer offering and operations."
Similarly, PAG Managing Director Sid Khotkar, expressed his enthusiasm about the new partnership, stating that it was a great result for both private equity firms and the AVC business. "We work to invest in strong businesses in Australia and help make them even stronger," said Khotkar. "This agreement is a testament to that approach and to AVC's great success. We are happy to partner with CVC on this next exciting phase for Paul and the team.”