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  • M&A Leisure deal flow bulletin

    January 2018 edition

Article:

M&A Leisure deal flow bulletin - January 2018 edition

31 January 2018

Welcome to the January 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.

Pubs and Brewers

  • BDO is delighted to have advised the shareholders on the sale of Aspall Cyder to Molson Coors Brewing Corporation. Established in 1728 by Clement Chevallier, Aspall Cyder is one of the world's oldest cider companies, having remained in the Chevallier family for 8 generations. The acquisition by US listed Molson Coors, provides an exciting new chapter for Aspall. The resulting investment will provide a real opportunity to elevate and grow the status of English cider and the Aspall brand in the UK and abroad.​"We have been really impressed with the entire BDO team throughout this process. From accessing the key decision makers at the right buyers through to creating a process which drove value and ultimately negotiating the best deal and outcome for the shareholders. We felt fully supported throughout the entire process with a dedicated team who were impressive in their knowledge and experience of the sector and successful deal completion. We would have no hesitation in recommending BDO to anyone considering selling their business." Management team, Aspall Cyder
  • As part of their strategy to focus on premiumisation, Pernod Ricard has acquired the remaining stake in Avión Spirits, owner of Tequila brand Avión, for an undisclosed sum.

Travel deal flow

  • BDO is delighted to have advised Barrhead Travel, a leading UK independent travel agent, to Travel Leaders; the largest travel agency business in the US. Chairman Bill Munro and chief executive Sharon Munro will remain in their roles in the company.
  • Inflexion backed luxury tour operator Scott Dunn has acquired Singapore based Country Holidays for an undisclosed amount. The deal will bolster the group's presence in Asia.
  • Snaptrip.com has raised £2.1m through a host of Angel investors and has used the cash to acquire Last Minute Cottages – which includes the websites lastminute-cottages.co.uk, big-cottages.com and henpartyvenues.co.uk.
  • European growth private equity firm Keensight Capital has sold its 30% stake in ski holiday business TravelFactory to resort operator Compagnie des Alpes.
  • Wyndham is set to acquire mid-scale hotelier La Quinta's management and franchise business for c$1.95bn, with the deal expected to be completed in Q2 2018. Wyndham would gain almost 900 managed and franchised hotels, giving the company over 9000 hotels around the world.
  • Palatine backed Verdant Leisure has acquired Scoutscraft Holiday Centre as its fourth bolt-on acquisition since 2016.

Restaurants and Bars deal flow

  • The Alchemist has secured a £16m finance package to be invested in the continued innovation of the brand, rejuvenating existing sites and the acquisition of new locations.
  • BGF has invested £2m in Crepeaffaire. The business, which operates 10 company owned sites and has a growing franchise in the Middle East, will use the funding to expand across the UK and internationally.
  • Simmons Bars has been acquired by Lonsdale Private Equity in a £10m deal. The investment will enable the management team to grow the chain to 30 UK venues by the end of 2020.

Alternative Leisure

  • Viva Gym, the Spanish low cost gym business backed by Bridges Fund Management, has acquired Fitness Hut from Edge Capital to create a leading operator within the European low-cost gym sector.

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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