Partnership to strengthen Dixon’s position in Australia’s food,
beverage and hospitality sector
MELBOURNE, Australia & SYDNEY–(BUSINESS WIRE)–
Leading Australian hospitality and leisure group Dixon Hospitality
Limited (“Dixon Hospitality” or the “Company”) and global investment
firm KKR today announced a partnership under which KKR will acquire a
majority stake in the Company.
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Dixon Hospitality is one of the largest and fastest-growing food and
beverage-focused operators in the Australian hospitality industry. The
Company has a strategy of acquiring well-run venues and function spaces
with a focus on providing patrons with an exceptional experience and
unique atmosphere. Today, Dixon Hospitality operates a portfolio of more
than 40 high-quality venues located across Australia. The majority of
venues operate as a standalone pub, bar or restaurant with their own
defined brand, service proposition and target clientele. Across the
Dixon Hospitality portfolio, there is a focus on premium food and
beverage offerings and an attractive range of function and event
facilities.
The Company’s management team, led by Founder and Executive Chairman
Bruce Dixon and CEO Paul Waterson, has in-depth knowledge and extensive
experience in the hospitality industry. Through its portfolio of leading
venues, Dixon Hospitality is well-positioned to meet patrons’
expectations at a time when consumers are increasingly dining outside of
the home, watching more sports in pub, bar and restaurant venues, and
consuming more craft beer and premium food and beverage products. Dixon
Hospitality’s growth strategy includes a brownfield development program
to improve patron experience and adapt to changing consumer trends.
Bruce Dixon said, “We are extremely pleased to welcome KKR as an
experienced partner. We have known and held the KKR team in high regard
for a long time, and their investment is a strong endorsement of the
outlook for our business. We’re confident this partnership will position
the company for long-term success.”
Paul Waterson added, “We have always focused on ensuring that excellent
service, quality dining and unique atmospheres are at the heart of our
business. KKR’s operational expertise and knowledge of global industry
best practices will help us deliver an even better experience to
customers across our growing portfolio of venues.”
Scott Bookmyer, Member of KKR and Head of KKR Australia, said, “KKR is
proud to partner with Dixon Hospitality, a leading player in the
Australian hospitality industry with a strong focus on delivering a
differentiated dining experience to customers across the country. We are
excited to work together with Dixon Hospitality’s experienced team. This
exemplifies our focus on partnering with proven entrepreneurs to help
create an exciting future for the business.”
Gareth Woodbridge, Principal at KKR Australia, said, “We are impressed
by the strength of Dixon Hospitality’s team, business model and
operations across its diverse portfolio of food and beverage venues.
This is an exciting time for Australia’s hospitality sector, and KKR is
committed to supporting the business to achieve its long-term growth
ambitions.”
KKR’s Asia Pacific private equity platform takes a flexible approach to
investment across both traditional control transactions as well as
growth equity stakes in companies, and leverages the Firm’s industry
expertise and operational capabilities to add value. KKR has been
investing in Australia through its pan-regional private equity funds
since 2006, and opened its office in Sydney in 2007. As the Australian
economy offers opportunities to invest in high-quality companies poised
for expansion domestically and overseas, the country plays an important
role in KKR’s Asia Pacific strategy. To date, KKR has deployed more than
AUD 3 billion across its Private Equity, Credit, Energy & Resources and
Real Estate businesses. KKR’s existing private equity investments
include Latitude Financial Services, Santanol and Sundrop Farms.
KKR will make the proposed investment from its recently closed US$9.3
billion Asian Fund III. The transaction is subject to customary
approvals. Further details of the transaction were not disclosed.
About Dixon Hospitality Limited
Dixon Hospitality is one of the largest and fastest-growing food and
beverage-focused operators in the Australian hospitality industry with a
portfolio of 40 high quality venues located primarily across Melbourne,
Sydney and Brisbane. Dixon Hospitality has evolved through a series of
disciplined acquisitions of quality venues in attractive locations. The
majority of venues operate as a standalone pub, bar or restaurant with
their own defined brand, service proposition and target clientele.
Across the Dixon Hospitality portfolio, there is a focus on premium food
and beverage offerings and an attractive range of function and event
facilities.
About KKR
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world‐class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and
on Twitter @KKR_Co.
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Dixon Hospitality:
Marcia English, +61
406 380 310
Marcia.English@dixonhospitality.com.au
or
KKR:
KKR
Asia Pacific:
Anita Davis, +852 3602-7335
Anita.Davis@kkr.com
or
KKR Americas:
Kristi
Huller / Cara Kleiman, +1 212-750-8300
Media@kkr.com
or
Bespoke
Approach (for KKR Australia):
Ian Smith, +61 8 8419 2888
ismith@bespokeapproach.com
Source: KKR & Co. L.P.