CVC and PAG Forge Equal Partnership to Drive Growth at Australian Venue Co.

CVC and PAG Forge Equal Partnership to Drive Growth at Australian Venue Co.

(IN BRIEF) CVC Capital Partners Asia VI has acquired a 45% share in Australian Venue Co. from PAG, creating an equal ownership split between the two private equity firms, with AVC’s management retaining 10%. The transaction injects fresh capital into AVC’s network of 243 pubs, bars, and hotels across Australia and New Zealand. CEO Paul Waterson highlighted that the partnership will finance venue refurbishments, improve customer offerings, and support new site development. CVC’s Richard Blackburn praised AVC’s operational excellence, while PAG’s Sid Khotkar emphasized the deal’s alignment with PAG’s strategy of strengthening leading Australian enterprises. AVC’s leadership team remains in place to execute the company’s growth plans.

(PRESS RELEASE) LUXEMBOURG, 1-Aug-2025 — /EuropaWire/ — CVC Capital Partners Asia VI has partnered with PAG to acquire a 45% stake in Australian Venue Co. (AVC), one of the country’s leading pub, bar, and hotel operators. Under the deal, CVC Asia VI and PAG will each hold 45% of AVC’s equity, while the remaining 10% remains with the company’s management team.

This strategic investment will fuel AVC’s expansion across its portfolio of 243 licensed venues in Australia and New Zealand. CEO Paul Waterson explained that the combined expertise and resources of CVC and PAG will enable AVC to refurbish existing properties, elevate guest experiences, and pursue new development opportunities in key population centers.

Richard Blackburn, Head of CVC Australia, commented, “AVC exemplifies best-in-class operations and customer engagement. We’re delighted to co-invest with PAG and support the management team as they drive the next phase of growth.”

Sid Khotkar, Managing Director of PAG, added, “Our approach is to back strong Australian businesses and help them scale. Joining forces with CVC reinforces our commitment to AVC’s ongoing success under Paul’s leadership.”

AVC’s seasoned management group will continue to lead the business, leveraging this capital infusion to accelerate venue upgrades and strengthen its market position.

Media Contact:

Patrick Humphris
Managing Director, Head of Corporate Affairs
CVC
Tel: +44 204 576 9526
phumphris@cvc.com

SOURCE: CVC