M&A Deal Summary

Fortress Acquires Punch

On December 15, 2021, asset manager Fortress acquired restaurant Punch from Patron Capital Partners

Acquisition Highlights
  • This is Fortress’ 3rd transaction in the Restaurants sector.
  • This is Fortress’ 5th transaction in the United Kingdom.

M&A Deal Summary

Date 2021-12-15
Target Punch
Sector Restaurants
Buyer(s) Fortress
Sellers(s) Patron Capital Partners
Deal Type Secondary Buyout

Target

Punch

Burton upon Trent, United Kingdom
Punch is a pub and bar operator in the United Kingdom, with around 1,300 leased pubs. Punch Taverns was formed in 1997 and is based in Burton upon Trent, United Kingdom.

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Buyer(S) 1

Buyer

Fortress

New York, New York, United States

Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 42 of 44
Sector (Restaurants) 3 of 3
Type (Secondary Buyout) 4 of 4
Country (United Kingdom) 5 of 5
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Accordia Golf

Tokyo, Japan

Accordia Golf is a diversified owner of golf courses and golf driving ranges across Japan. Accordia Golf was founded in 1981 and is based in Tokyo.

Buy $3.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-09 Sogo & Seibu

Tokyo, Japan

Sogo & Seibu is a Japanese retailer that operates two department store brands; Sogo, and Seibu. The Company sells a variety of household goods and other products. Sogo & Seibu was formed in 2009 and is based in Tokyo, Japan.

Buy $1.5B

Seller(S) 1

SELLER

Patron Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Real Estate
Founded 1999
PE ASSETS 3.4B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Patron Capital Partners is a European real estate private equity firm. Patron focuses on making opportunistic and value-oriented investments in undervalued and typically liquidity constrained property assets, loans and corporate entities with substantial underlying property value, predominantly in Western Europe. Patron Capital Partners was established in 1999 and is headquartered in London.


DEAL STATS #
Overall 3 of 3
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 2 of 2
Country (United Kingdom) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-25 Punch

Burton upon Trent, United Kingdom

Punch is a pub and bar operator in the United Kingdom, with around 1,300 leased pubs. Punch Taverns was formed in 1997 and is based in Burton upon Trent, United Kingdom.

Buy £1.8B