Oak View Group has completed its purchase of Rhubarb Hospitality Collection, one of the world’s leading high-end hospitality providers, the company announced Thursday.
Oak View Group (also the parent company of Pollstar and VenuesNow) acquired Rhubarb from LGT Private Debt in what OVG is characterizing as “one of the most significant catering industry transactions in decades.”
“This acquisition, along with other companies we acquired over the last two years, gives us a platform that we think rivals or is better than any other food and beverage company out there,” Oak View Group chairman and CEO Tim Leiweke said. “If you look at the arenas we own and operate and you look at our upcoming ventures, like Co-op Live, by adding RHC we think we are now best-in-class on premium experience and hospitality and that is in large part because of our knowledge and experiences as arena owners and operators, not just food and beverage vendors. … RHC and OVG are the perfect partners to design and deliver the world’s best hospitality at venues around the world.”
In the UK, Oak View Group, with the support of RHC, will operate Co-op Live, the UK’s largest arena and currently being developed in Manchester by OVG in partnership with City Football Group. RHC will help deliver Co-op Live’s commitments to sustainability and local sourcing.
Over the last 25 years, RHC has built its reputation with iconic venues across London, New York, and Berlin. RHC is forecasted to deliver nine-figure revenues in 2023 and its team of 2,000 caters for well over 5 million people every year at venues including Peak in New York — the 10,000 square-foot restaurant, bar, and event space on the 101st floor of 30 Hudson Yards — as well as the Royal Albert Hall, Ascot Racecourse, Sky Garden, 22 Bishopsgate, as well as venues in Berlin.
“This is an incredibly meaningful partnership for RHC, and we are thrilled to partner with OVG. We have known the team for many years, they understand our business model, and we all see best-in- class hospitality as essential to the value proposition between venues and their fans. Together, we are determined to redefine what it means to deliver a truly exceptional and unforgettable experience in our industry,” Pieter-Bas Jacobse, Chief Executive of Rhubarb Hospitality Group, said.
Following the launch of OVG Hospitality in 2021, OVG completed the acquisitions of
Spectra in November 2021, Spectrum Concessions in North America in August 2022, and
UK-based Bovingdons in October 2022.
The execution of the transaction for OVG was led by Keegan McDonald, vice president of
business development, Michael Moschella, vice president of business development, and Joe Donohue, senior associate of business development. The management team for RHC was led by chief executive officer P.B. Jacobse and chief financial officer Laraine Beament. Goldman Sachs & Co. acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to OVG. Houlihan Lokey acted as financial advisor and Eversheds Sutherland acted as legal advisor to Rhubarb.