OVG acquires Rhubarb Hospitality Collection
Rhubarb will help deliver Co-op Live’s commitments to sustainability and local sourcing
Oak View Group (OVG), a global development, service, and investment company for the sports, live entertainment, and convention industries, has acquired Rhubarb Hospitality Collection (RHC), a high-end hospitality provider in the catering industry.
The purchase of the premium hospitality group from LGT Private Debt aims to “elevate the experience for fans at venues around the world, ensuring every fan gets a premium experience”.
In addition to Rhubarb’s own growth plan, the current management team, led by chief executive P.B. Jacobse will help drive forward “OVG’s plans to transform the food and beverage experience at arenas, stadiums, and live entertainment venues across the UK and around the world”.
In the UK, Oak View Group, with the support of Rhubarb, will operate Co-op Live, the UK’s “largest” arena which is currently being developed in Manchester by OVG in partnership with City Football Group.
Rhubarb will help deliver Co-op Live’s commitments to sustainability and local sourcing.
The transaction also represents a continuing expansion by OVG into premium hospitality across all types of venues and live events spaces around the world, with Oak View Group’s new food and beverage arm, OVG Hospitality.
Additionally, Rhubarb’s category leading expertise in premium hospitality will allow OVG to offer to its venues and third-party clients curated service across the entire food and beverage value chain.
The acquisition continues OVG’s ascension as the “leading” full-service live events company in the world.
The Rhubarb events division continues to focus on bespoke solutions for a broad range of clients, from high profile charity galas for 2,000 guests, to small, intimate dinners in country venues.
The execution of the transaction for OVG was led by Keegan McDonald, vice president of business development, Michael Moschella, vice president of business development, and Joe Donohue, senior associate of business development.
The management team for RHC was led by chief executive officer P.B. Jacobse and chief financial officer Laraine Beament. Goldman Sachs & Co. acted as financial advisor and Kirkland and Ellis LLP acted as legal advisor to OVG.
Houlihan Lokey acted as financial advisor and Eversheds Sunderland acted as legal advisor to Rhubarb.
Pieter-Bas Jacobse, chief executive of Rhubarb Hospitality Group, said: “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.”