Allens has advised Asia Pacific-focused alternative investment firm PAG on the sale of a significant stake in Australian Venue Co. (AVC) to global private equity investor CVC.
AVC is Australia's second largest food and beverage-led hospitality group, which owns and operates a portfolio of more than 240 pubs, bars and event venues across Australia and New Zealand.
Allens previously advised KKR on the divestment of AVC to PAG in 2023. Following completion of this transaction, PAG and CVC will co-control the business, alongside AVC's management team who will retain a significant ownership position.
'We've been fortunate to work with the AVC team and with the sponsors that have stewarded the business. CVC's investment underscores the continued confidence in the AVC business and other defensive consumer businesses like it,' said co-lead Partner and Private Capital Sector Leader Emin Altiparmak.
'We're proud to have supported PAG and the AVC team on this transaction and congratulate CVC on what is a strong foundational investment. The business is in good hands and we look forward to continuing to work with the shareholder group on its next phase of growth,' said co-lead Partner Josh Hoare.
The transaction continues a very busy year for Allens' market-leading private equity team. Having advised on US$24.8 billion in PE buyouts in H1 2025, Allens is the top ranked Australian firm and the only Australian firm to feature in Mergermarket's list of top 10 global PE legal advisers.
