Friday, 4 November 2016:
In a game changing move for the Australian hospitality industry, Quadrant Private Equity backed Urban Purveyor Group and Rockpool Group have combined forces to create a multi-concept, dining and entertainment powerhouse, Rockpool Dining Group.
The new group will be led by global hospitality industry veteran Chief Executive Officer Thomas Pash, alongside internationally acclaimed chef and restaurateur Neil Perry. The combined group includes best in class restaurants such as Rockpool Bar & Grill, Saké Restaurant & Bar, Spice Temple, Fratelli Fresh, The Cut Steakhouse, Rosetta, The Bavarian, Munich Brauhaus, El Camino Cantina, Burger Project, Fratelli Famous, Café Ananas and Saké Jr.
The move firmly establishes Rockpool Dining Group as the most dominant player in the Australian hospitality industry, with annualised revenues in excess of $350 million.
Rockpool Dining Group’s portfolio includes 47 venues, 15 dining brands, and over 3000 employees across four states. The vertically-integrated group also owns a rapidly growing brewing company and a state-of-the-art production kitchen.
A highly credentialed leadership team will oversee the group’s premium, premium-casual, casual and fast-casual restaurants and work on an accelerated pipeline of new venues that is expected to grow to more than 80 over the next 12 months, and to more than 200 over the next few years. Notable near term openings include Rosetta at Grosvenor Place in Sydney, more than 20 fast-casual brand openings for Burger Project, Saké Jr and Fratelli Famous, two The Bavarians and another Saké and Fratelli Fresh at the International Convention Centre at Darling Harbour.
Fresh off the success of Burger Project, massive debuts for new concepts and brand extensions Saké Jr and Fratelli Famous pizzeria, and the expansion of Fratelli Fresh, Mr Pash and Mr Perry will oversee the continued rapid rollout of new venues. A second Rosetta, a smaller format Spice Temple, a large format Cantonese concept and a Rockpool Bar Series will be added to the portfolio over the next 12 months. The group is also in early discussions to open first venues in both London and Los Angeles.
Rockpool Dining Group:
Includes premium steakhouses, sophisticated Japanese, French, Italian and modern Chinese restaurants, casual Bavarian and Tex-Mex venues and gourmet fast-casual pizza, Asian-fusion and burger concepts;
Spans 47 venues and 15 restaurant brands;
Sets the foundation to expand to more than 80 venues by the end of CY 2017, including the group’s first venues in London and Los Angeles;
Has revenue turnover in excess of $350 million, and over 3000 employees;
Has a current geographic footprint across Sydney, Melbourne, Brisbane, the Gold Coast and Perth;
Is vertically-integrated and includes a rapidly growing brewing company and state-of-the-art production kitchen.
Mr Pash said bringing together our best in class restaurants, culinary credentials, amazing teams and vertically-integrated businesses paves the way for us to create one of the leading dining and entertainment groups in the world.
“Rockpool Dining Group is one of the top groups to watch in the global hospitality industry,” Mr Pash said.
“Our portfolio includes some of the best concepts and brands in the industry. Together we are stronger across key dining segments, from premium to fast-casual, we have a larger geographic footprint, and we have a wider portfolio of international cuisines and fantastic restaurant names that can be expanded to cater to a growing and more inquisitive dining public,” Mr Pash said.
As Head of Culinary, Mr Perry will actively co-lead with Mr Pash brand development and innovation across the entire group. Rockpool Group co-founder Trish Richards will join the group’s finance team and continue to oversee and support strategic financial direction for the group.
“Combining our strengths to create an outstanding global dining portfolio is a very exciting next chapter for Trish and I, and we look forward to working with Tom and his team to help the group continue to expand and innovate,” Mr Perry said.
“We will hit the ground running as a combined team with the openings of Rosetta at Grosvenor Place and several new Burger Projects, Saké Jrs and Fratelli Famous pizzerias, bringing new experiences to current and new customers.”
Quadrant Private Equity Executive Chairman Chris Hadley said the acquisition of Rockpool Group adds more great brands and proven leadership to an already strong portfolio.
“This acquisition consolidates great restaurant brands and industry brainpower to create a formidable and globally competitive dining and entertainment group,” Mr Hadley said. “Rockpool Dining Group has a brilliant and diverse portfolio that is ripe for expansion under two exceptional stewards of the industry: Thomas Pash and Neil Perry.”
Urban Purveyor Group and Quadrant Private Equity were advised by Ernst & Young and King & Wood Mallesons.
Rockpool Group engaged KPMG Corporate Finance led by Jon Adgemis and Beau Dixon to manage the transaction and Gilbert + Tobin for legal support.
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