M&A Deal Summary

Greene King Acquires The Magic Pub

On June 19, 1996, Greene King acquired leisure company The Magic Pub from Cinven and CVC Capital Partners for 304M USD

Acquisition Highlights
  • This is Greene King’s 1st transaction in the Leisure sector.
  • This is Greene King’s largest (disclosed) transaction.
  • This is Greene King’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 1996-06-19
Target The Magic Pub
Sector Leisure
Buyer(s) Greene King
Sellers(s) Cinven
CVC Capital Partners
Deal Type Add-on Acquisition
Deal Value 304M USD

Target

The Magic Pub

Suffolk, United Kingdom
The Magic Pub Company Pub operated the 286 pubs in the southern half of England. The estate comprised well-sited properties which had been neglected in previous years in terms of both upkeep and management.

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Buyer(S) 1

Buyer

Greene King

Suffolk, United Kingdom

website


Category Company
Founded 1799
Sector Leisure
Employees38,408
Revenue 2.2B GBP (2019)
DESCRIPTION

Greene King operates as a pub retailer and brewer running over 2,700 pubs, restaurants, and hotels in towns, villages, and city-center high streets across England, Wales, and Scotland. Greene King was founded in 1799 and is based in Bury St Edmunds, the United Kingdom.


DEAL STATS #
Overall 1 of 4
Sector (Leisure) 1 of 1
Type (Add-on Acquisition) 1 of 4
Country (United Kingdom) 1 of 4
Year (1996) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-05 Hardys & Hansons

Nottingham, United Kingdom

Hardys & Hansons Ltd. is a provider of various brand lagers, wines, spirits, and soft drinks.

Buy -

Seller(S) 2

SELLER

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 33 of 125
Sector (Leisure) 3 of 6
Type (Add-on Acquisition) 4 of 30
Country (United Kingdom) 31 of 72
Year (1996) 4 of 8
Size (of disclosed) 20 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-06-01 Ludgate Group

London, United Kingdom

Ludgate Group (Ludgate Communications) is a provider of public relations and marketing services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-07-01 Allied Carpets Group

Orpington, United States

Cinven led the management buyout of Carpetland from the receivers of Lowndes Queensway in August 1991. The business comprised 85 of the best performing carpet stores in the group that went into receivership earlier in the year.

Sell -
SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 9 of 171
Sector (Leisure) 1 of 4
Type (Add-on Acquisition) 2 of 62
Country (United Kingdom) 9 of 32
Year (1996) 2 of 2
Size (of disclosed) 43 of 53
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-05-01 Hoogenbosch Retail Group BV

Hertogenbosch, Netherlands

Hoogenbosch is one of the largest shoe retailers in Europe, headquartered in Den Bosch, Netherlands. The company has five types of retail outlets which sell fine quality footwear, including brands such as Dolcis, Invito, Manfield, Pro-Sport and Olympia Sports. Its main markets are the Netherlands, Belgium and Germany. The company owns over 240 retail outlets and has 3,500 employees in the aforementioned three countries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-08-01 Luxfer Group

Salford, United Kingdom

Luxfer (Formerly British Aluminium) is a manufacturer of light metals, producing advanced alloys of magnesium and aluminium; components in aluminium, magnesium and carbon composites; and chemically-derived compounds of zirconium.

Buy -