Australian Venue Co has entered into a conditional acquisition agreement to purchase the Saturno Group’s eight pubs and four bottle shops in and around Adelaide.
It brings AVC’s South Australian portfolio of hotels to eighteen. The Unley, West End Tavern, The Mile End, The Colonist and Avenues Café Bar are all located in the Adelaide CBD and fringe suburbs. Venues outside the city’s centre include The Victoria Hotel in Strathalbyn, The Duck in Coromandel Valley and Mick O’Shea’s Hotel in Hackham.
AVC’s strategy in SA is focused on acquiring and revitalising iconic heritage venues and landmark destinations ajd the acquisition is expected to be finalised by February 2022. Venues will continue to operate as normal and all staff will keep their jobs, say AVC.
AVC recently acquired Parkside Hotel, Naracoorte Hotel, the recently completed $3.6m renovation of Brighton Metro Hotel and planned renovations at Hampstead Hotel, Waterloo Station Hotel and Robe Hotel.
Australian Venue Co CEO Paul Waterson said the acquisitions reflects the group’s confidence in the future of the Australian hospitality industry.
“We see a lot of potential in the South Australian market. We’ve been operating in SA with a local team on the ground for over two years and will continue to invest in the State.
“These pubs have been part of their community for decades, and we’re excited to be part of the next chapter. We can’t wait to meet the team and the locals at each of these venues.”
A spokesperson for Saturno Group added: “Adrian and Leon have retired from the industry after 50 years and they wish to thank all the wonderful people they have worked with.’