Ropes & Gray Advises Avenue Capital on £107m Sale of Hawthorn Leisure
Ropes & Gray has advised global investment firm Avenue Capital Group on the £106.8m sale of Hawthorn Leisure Holdings, the 298-strong UK pub group, to leading UK property investor NewRiver.
Hawthorn Leisure, which was formed four years ago and was controlled by both its management and Avenue Capital, comprised a portfolio of 298 high quality community pubs. These pubs add to NewRiver’s existing pub portfolio, increasing the size of its estate to 629 pubs. Going forward, the combined NewRiver & Hawthorn Leisure estate will target scale-based synergies and other improvements in purchasing and logistics.