Good Spirits Hospitality Limited, owners of Auckland venues including Danny Doolans and The Cav, is seeking to expand its New Zealand hospitality operations with the acquisition of The Nourish Group.
GSH’s wholly owned subsidiary Good Spirits Hospitality No.2 Limited has entered into a conditional agreement to acquire all of the shares in Nourish Group Limited which owns 10 popular hospitality venues throughout New Zealand – including Soul Bar & Bistro, Talulah, The Chamberlain, The Brit, Andiamo, Shed 5, The Crab Shack (Wellington), Pravda Café and Grill, Jervois Steak House (Auckland and Queenstown) and also provides advisory services to Bistro Lago.
It will also take the ownership rights to the brand The Crab Shack but the owners of Nourish Group will retain The Crab Shack (Auckland).
Once complete, GSH will employ more than 450 people.
“This is a transformational growth opportunity for GSH,” says Good Spirits Hospitality’s Chair Duncan Makeig.
“We are excited about the opportunity to leverage Nourish Group’s industry-leading expertise in the restaurant and social dining segments.
“The combined group will provide a platform for further growth and innovation. This is just the start of an exciting journey together.”
Nourish Group’s founder Richard Sigley will join the GSH Board as an executive to lead the company’s creative and growth agenda, along with his executive team and all the Nourish staff and patrons to the GSH group.
“GSH’s CEO Geoff Tuttle and Richard Sigley have a long, successful history of working together growing and operating some of New Zealand’s best performing and iconic establishments – we are excited by the prospect of them working together again and what the future will bring,” says Duncan.
The purchase price is expected to be upwards of $25 million.
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