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Evening Standard

Business

Anna Wise

Loungers strikes deal to be bought by US investment firm for £338m

Loungers Lounge Fortress United States Fortress Investment Group Cosy Club United Kingdom

Loungers has said it will open 23 new sites by the end of the year (Loungers / PA) -

Cafe bar business Loungers has agreed to be bought by a US investment group in a deal which values it at about £338 million.

Fortress Investment Group said it has made an offer for the UK hospitality group through a newly-formed investment vehicle.

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