Vocus not the only focus for KKR
Vocus Group is not the only game in town for KKR.
Vocus Group is not the only game in town for KKR.
As first reported by Street Talk on Wednesday, the private equity investor remains in talks to acquire a controlling stake in pub owner Dixon Hospitality Group.
Sources said Dixon's owners, spearheaded by chief executive and former Spotless Group boss Bruce Dixon, and KKR were working towards a signed deal by the end of next week.
Dixon Hospitality Group is expected to be worth $150 million to $200 million, including debt. The company's owners are seeking a private equity investor to tip in growth capital and bring the group back to the ASX boards in a couple of years' time.
CHAMP Private Equity also considered a bid for Dixon but dropped out of the process in May.
Dixon Hospitality cancelled plans for an initial public offering in April, after testing listed investor appetite for the deal and then receiving inbound approaches from private equity.
During the IPO pre-marketing roadshow, sponsor broker Morgans valued the company at up to $227 million and said it expected Dixon to report $199.9 million revenue in the 2018 financial year and $13.5 million profit.
Dixon owns 50 leasehold venues, primarily in Sydney, Melbourne and Brisbane.