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M&A Deal Summary

PAG Acquires Craveable Brands

On July 12, 2019, asset manager PAG acquired restaurant Craveable Brands from Archer Capital

Acquisition Highlights
  • This is PAG’s 1st transaction in the Restaurants sector.
  • This is PAG’s 1st transaction in Australia.

M&A Deal Summary
Date 2019-07-12
Target Craveable Brands
Sector Restaurants
Buyer(s) PAG
Sellers(s) Archer Capital
Deal Type Secondary Buyout

Target

Craveable Brands

Chatswood, Australia
Craveable Brands is an Australian-owned operator of quick-service restaurants with over 580 stores across Australia under the Oporto, Red Rooster and Chicken Treat brands. It also has a growing international network, with stores in New Zealand, Singapore, and Sri Lanka and a number of countries in the Middle East. Craveable Brands was founded in 2007 and is based in Chatswood, New South Wales.

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Buyer(S) 1

Buyer

PAG

Hong Kong, China

Investor Investor Investor

Category Asset Manager
Founded 2002
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PAG is a large independent alternative investment management group focused on private equity, real estate, and absolute returns. PAG’s private equity business, PAG Asia Capital or PAGAC, focuses on large-scale buyouts, control deals, and structured minority investments. PAG’s real estate strategy manages a series of real estate opportunity and core plus funds investing in properties in Japan, China and throughout Asia-Pacific. PAG’s absolute return business focuses on building long term relationships with its partners by offering a flexible range of financing solutions to meet short and long term funding needs. PAG was formed in 2002 and is headquartered in Hong Kong.

DEAL STATS #
Overall 6 of 25
Sector (Restaurants) 1 of 3
Type (Secondary Buyout) 2 of 4
Country (Australia) 1 of 6
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Shanghai Baosteel Gases

Shanghai, China

Shanghai Baosteel Gases is an industrial gas service provider in China. Shanghai Baosteel Gases was founded in 2008 and is based in Shanghai, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-05 BioRay Pharmaceutical

Taizhou, China

BioRay Pharmaceutical is a large-scale, fully integrated biopharmaceutical company specializing in the development, manufacturing and sales of biologic drugs for auto-immune and oncology treatment areas. BioRay Pharmaceutical was founded in 2019 and is based in Taizhou, China.

Buy $540M

Seller(S) 1

SELLER

Archer Capital

Dawes Point, Australia
Category Private Equity Firm
Founded 1997
PE ASSETS 2.5B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Archer Capital is an independent private equity firm that targets buyout opportunities in Australia and New Zealand. Archer looks for growth companies with strong market positions. Archer prefers majority investment positions. The Firm will not invest in real estate or businesses with unproven technology. Archer Capital was formed in 1997 and is based in Dawes Point, Australia.

DEAL STATS #
Overall 26 of 29
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 6 of 6
Country (Australia) 22 of 24
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-22 Aerocare Flight Support

Newstead, Australia

Aerocare Flight Support is an independent provider of aviation services. Aerocare works with 34 airlines from budget carriers through to international full-service airlines providing the full range of passenger and ramp services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 New Zealand Pharmaceuticals

Palmerston North, New Zealand

New Zealand Pharmaceuticals Ltd. is a developer and manufacturer of biopharmaceutical products including high purity bile acids, specialized blood group products, complex carbohydrates, and other pharmaceutical intermediates. New Zealand Pharmaceuticals Ltd. was founded in 1971 and is based in Palmerston North, New Zealand.

Sell -
Mergr

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