• M&A Leisure deal flow bulletin

    February 2018 edition


M&A Leisure deal flow bulletin - February 2018 edition

09 March 2018

Welcome to the February edition of our bulletin – the BDO M&A Leisure team's monthly overview of the latest M&A activity we've seen in the leisure space.

Travel deal flow

  • BDO is delighted to have advised Dnata on the sale of their 22% stake in travel management company Hogg Robinson Group to American Express Global Business Travel. HRG is valued by American Express GBT at up to £410m, with the deal expected to go through in the second quarter of the year subject to regulatory approval.
  • In a separate deal, HRG announced the sale of its expense management solutions provider Fraedom to Visa for almost £142m.
  • Wyndham Worldwide Corporation has announced an agreement to sell its European vacation rental business to Platinum Equity for c$1.3 billion.
  • Whitbread has acquired 19 leasehold hotels in Germany for an undisclosed sum. 'This acquisition is an important step in accelerating Whitbread's existing international strategy' according to management.

Pubs and Brewers deal flow

  • Fuller's has acquired West Sussex based craft beer producer Dark Star Brewing for an undisclosed sum.
  • Edinburgh based Signature Pub Group has acquired the seven-strong bar and restaurant operator Speratus Group for an undisclosed sum.

Restaurants and Bars deal flow

  • Honest Burgers had secured an increased funding package from banking partner Santander, totalling £17m, to help fund its growth pipeline.

Alternative Leisure deal flow

  • Cineworld Group has now completed the acquisition of Regal Entertainment Group in a $3.6bn (£2.7bn) deal; creating the world's second largest cinema group.

Please contact one of the M&A Leisure team if you would like to discuss any of the topics raised in more detail.

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