US-based entertainment and sports facilities provider Oak View Group (OVG) has acquired UK-based events and fine dining caterer Rhubarb Hospitality Collection (RHC), according to several media reports.
Informed sources told the Financial Times that RHC had been purchased from Liechtenstein-based asset manager LGT’s private debt team in a deal valued at £100m, although they did not specify the precise figure.
RHC offers luxury event catering, restaurant dining and venue hospitality services.
OVG chairman and CEO Tim Leiweke was quoted by Businesslive.co.uk as saying: “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.
“We feel strongly about this because we are facility owners and operators and we see food and beverage differently than people who are simply just third-party vendors.”
OVG initially plans to launch Rhubarb’s services to its five arenas across the US and then to five more venues currently under construction.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
It also plans to launch Rhubarb’s services to its owner-operated concert venues and it intends to bid for third-party catering deals for other venues.
Rhubarb Hospitality Group chief executive Pieter-Bas Jacobse said: “This is an incredibly meaningful partnership for Rhubarb and we are thrilled to partner with OVG.”
RHC develops creative concepts across all hospitality areas and offers business and industry (B&I) catering for various offices and spaces in the UK and the US.
With a team of 2,000 caterers, the company has venues in London, New York and Berlin.
The company conducts different events such as weddings and corporate.
In recent years, Rhubarb has signed contracts to offer catering services for well-known destinations such as the Sky Garden in London and the Hudson Yards in New York.