Finance

MANTLE EYES IPO FOR EXPANSIVE GROUP

Posted on January 16th, 2019 by Clyde Mooney
Hot on the heels of Redcape’s long-awaited IPO, Queensland pub king Godfrey Mantle has divulged plans toward floating his Mantle Group portfolio mid-2019. Mantle owns a string of successful Queensland operations, including five Pig 'n' Whistle pubs, one of which

REDCAPE ASX-BOUND AFTER FUND RAISING

Posted on November 2nd, 2018 by Clyde Mooney
The long-awaited IPO of Redcape Hotel Group seems destined to hit the trading floor 30 November, after success securing pre-launch commitments “well in excess” of the minimum funding required. ASX-listed investment bank Moelis Australia announced a fundraising roadshow in October

COLES & AVC LODGE JV FOR SPIRIT FLEET

Posted on October 26th, 2018 by Clyde Mooney
The long-awaited joint venture between Coles’ Spirit Hotels and KKR’s Australian Venue Company is one step closer, with lodgement of the paperwork this week to Queensland’s Office of Liquor & Gaming Regulation. Rumours have circled for much of this year

IPO IN THE WORKS FOR FLYING REDCAPE

Posted on October 12th, 2018 by Clyde Mooney
After years of speculation and a change of ownership, Redcape has begun steps toward an Initial Public Offering in December. The prominent pub group was acquired mid-2017 by Moelis Australia after several rumoured divestment considerations by its former owners, US

ALE FY18 RESULTS MEASURE CONTINUED SUCCESS IN PUB BUSINESS

Posted on August 10th, 2018 by Clyde Mooney
ALE’s results for FY18 herald continued strength in the Australian pub sector, showing strong valuations, record low debt and market-leading returns for investors. Listed entity ALE (ASX: LEP) is the biggest landlord to Australia’s biggest publican, the majority Woolworths-owned Australian

DIXON & KKR’S AVC LOOKING TO LEAP WITH COLES JV

Posted on June 6th, 2018 by Clyde Mooney
The much-rumoured joint venture between Coles’ pub arm and a big operator is close to a deal with KKR’s Australian Venue Company, with the major hurdle fast approaching. Speculation has emerged about a broad change to the fleet of Spirit

CBA & BANKWEST UNDER FIRE OVER PUB BANKRUPTCIES

Posted on May 30th, 2018 by Clyde Mooney
The high-profile Royal Commission into Australia’s banks has turned the spotlight on commercial practices – particularly the wake of foreclosures on pubs by Bankwest post-GFC. The controversial practice of ‘non-monetary default’ clauses has been in discussion at the Commission, prompted

HEMMES LATEST HOTELIER ON ‘RICH LIST’

Posted on May 28th, 2018 by Clyde Mooney
The latest Rich List has been announced, featuring a dozen debutants including pub king Justin Hemmes. BRW first published its Top 200 Richest People in Australia in 1984, and counted (the late) John Hemmes and Merivale Hemmes, parents to Justin

WESFARMERS’ WOES COULD BE AUS VENUE CO BOON

Posted on March 19th, 2018 by Clyde Mooney
The battle of the supermarket pub groups has taken another twist with Wesfarmers’ mooted plans to shed Coles from its portfolio, as Aus Venue Co looks to step up the value of its operations. Eleven years after buying and reviving

2017 RESULTS PROPHETIC FOR A-GRADE A-REIT ALE

Posted on February 16th, 2018 by Clyde Mooney
The biggest landlord to Australia’s biggest publican reports strong half-yearly results, boding well for the industry and commercial interests. Listed A-REIT ALE (ASX: LEP) released end of 2017 results Wednesday, showing distributable profit down slightly (three per cent) but distributions