The deal was completed through funds managed by Fortress, a $49bn investment firm.

Domnall Tait, Managing Director at Fortress, highlighted the firm’s confidence in the UK hospitality sector and its commitment to expanding consumer-focused businesses. “Loungers holds a unique position in UK hospitality, and we believe strongly in experience-led retail. Our track record of investing in and growing consumer businesses ensures we are well placed to support Loungers’ next phase of growth,” he stated.

As part of the transaction, shareholders representing more than 35.9% of Loungers’ previous share capital chose to retain their equity stake in the company’s new ownership structure.

Source: Private Equity Wire

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