KPMG advised the shareholders of Australia’s leading restaurant group, Rockpool on its sale to Quadrant Private Equity backed Urban Purveyor Group.
KPMG advised the shareholders of Rockpool on its divestment to Urban Purveyor Group.
KPMG mergers and acquisitions, together with transaction and tax services advised the shareholders of Australia’s leading restaurant group, Rockpool Group (Rockpool) on its sale to Quadrant Private Equity (Quadrant) backed Urban Purveyor Group (UPG)
In a game changing move for the Australian hospitality industry, Quadrant backed UPG and Rockpool combined forces to create a multi-concept, dining and entertainment business, Rockpool Dining Group. KPMG advised internationally acclaimed chef and restaurateur Neil Perry along with fellow shareholders of Rockpool on their divestment to UPG, with the transaction completing in December 2016.
The transaction brought together UPG’s and Rockpool’s restaurants and culinary credentials including 47 dining and entertainment venues, 15 dining brands, revenues in excess of $350 million and over 3000 employees across four states.
With many new venues and concepts in progress, Rockpool Dining Group plans to double in size in the next 24 months and KPMG continue to provide ongoing advice to the shareholder and management.
Delivering real results for stakeholders
“The KPMG deal team delivered a focused and confidential process that clearly articulated the key business attributes, growth opportunities and synergy potential to optimally position Rockpool as well as clearly outlining the longer term road-map for growth. KPMG’s assistance in presenting the business and negotiating the share sale agreement was critical to success of the transaction and ensured the delivery of an outcome that exceeded Rockpool shareholder objectives”.
– Neil Perry
KPMG teams from mergers and acquisitions in conjunction with other parts of KPMG’s Deal Advisory group including transaction services and tax divisions coordinated a complex restructure and merger with UPG achieving a result above the Rockpool shareholder’s objectives. KPMG assisted management in the preparation and positioning of all marketing materials, negotiation of transaction documentation including equity rollover and due diligence.
On 22 December 2016, Quadrant backed UPG successfully acquired 100 percent of Rockpool.