Australian Venue Co (AVC) has announced that it has entered into a conditional acquisition agreement to purchase the Saturno Group’s eight pubs and four bottle shops in and around Adelaide.
The new pubs will bring AVC’s South Australian portfolio to a total of 18 venues, with the group having focused on acquiring and revitalising iconic heritage venues and landmark destinations.
Australian Venue Co CEO Paul Waterson said the acquisitions reflects the group’s confidence in the future of the Australian hospitality industry.
“We see a lot of potential in the South Australian market,” Waterson said.
“We’ve been operating in SA with a local team on the ground for over two years and will continue to invest in the State.
“These pubs have been part of their community for decades, and we’re excited to be part of the next chapter. We can’t wait to meet the team and the locals at each of these venues.”
The new venues include The Unley, West End Tavern, The Mile End, The Colonist and Avenues Café Bar, which are all located in the Adelaide CBD and fringe suburbs. The non-metro venues in the deal include The Victoria Hotel in Strathalbyn, The Duck in Coromandel Valley and Mick O’Shea’s Hotel in Hackham.
These venues will continue to operate as usual following completion of the acquisition, anticipated in February 2022, and Australian Venue Co will continue to employ all venue staff.
A spokesperson for Saturno Group added: “Adrian and Leon have retired from the industry after 50 years and they wish to thank all the wonderful people they have worked with.”
This acquisition comes as the group continues to invest in South Australian hospitality venues, following the acquisitions of Parkside Hotel & Naracoorte Hotel, the recently completed $3.6m renovation of Brighton Metro Hotel and planned renovations at Hampstead Hotel, Waterloo Station Hotel and Robe Hotel.