Co-op Live co-owner Oak View Group acquires Royal…

Co-op Live co-owner Oak View Group acquires Royal Ascot caterer Rhubarb Hospitality Collection

The co-owner of indoor entertainment venue Co-op Live, which is being built by Manchester City's Etihad Stadium, has acquired a luxury caterer that feeds punters at Royal Ascot.

Oak View Group (OVG) has snapped up Rhubarb Hospitality Collection in a deal worth over £100m.

Los Angeles-based stadium operator OVG, which is backed by Silver Lake, is a major backer of the Co-op Live development alongside City Football Group.

Harry Styles, promoter Simon Moran and Gaiety Investments UK, the business run by Irish concerns promotor Denis Desmond, also have stakes in the 23,500-capacity arena.

OVG bought Rhubarb Hospitality Collection from Liechtenstein-based asset manager LGT Private Debt.

Rhubarb, which will now work with OVG to operate Co-op Live, also caters for guests at the Royal Albert Hall, Sky Garden, 22 Bishopsgate, immersive live entertainment experiences Mamma Mia! The Party and Frameless, as well as venues in Berlin alongside the Edge.

Tim Leiweke, chairman and CEO, Oak View Group, said: "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.

"If you look at the arenas we own and operate and you look at our upcoming ventures, like Co-op Live, by adding Rhubarb 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.

"We've always believed that fans deserve the very best, from their experience getting to and from an arena to the best possible presentation of the show they've chosen to see, to the food and drink they buy.

"It has been clear from our first meeting that the Rhubarb team shares both our vision to elevate the fan experience, as well as our focus on quality, sustainability, and the importance of a great company culture.

"Rhubarb and OVG are the perfect partners to design and deliver the world’s best hospitality at venues around the world."

Pieter-Bas Jacobse, Chief Executive of Rhubarb Hospitality Group, added: "This is an incredibly meaningful partnership for Rhubarb, 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."

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