ANNOUNCEMENT BY NICOLAS KENOS
It is with great pleasure to announce that effective 26th November, 2018, Darling hospitality group, owners of renowned venues Dundas & faussett, Darling Café and Bambu eating house, completed the acquisition of iconic Melbourne hospitality venues Higher Ground, Top paddock and Kettle black from hospitality pioneers The Mulberry group.
Nathan Toleman, Ben Clark & Diamond Rozakeas of the mulberry group, have been instrumental in developing the Melbourne hospitality scene for over a decade and have created some of Melbournes most iconic dining venues.
The sale comes at an ideal time, as it allows Mulberry group to move on and focus on their two new, exciting projects which are the groups most ambitious to date.
Nicolas Kenos lead M&A advisor acting for the shareholders of the Mulberry group said “ the darling group were the ideal strategic for the Sale. With decades of hospitality experience and three successful venues of their own, we are comfortable that Higher Ground, Kettle Black and Top Paddock will remain at the forefront of the hospitality industry.”
The Sale is one of Benchmark Corporates largest hospitality transactions and Nicolas Kenos feels confident there will be a lot more activity to come for some of the best operators across Australia.
Financing is becoming more difficult at the lower end of the market however, at the sophisticated end many cashed up buyers are seeking great cash flow opportunities.