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Ultimate buys Living Ventures
Ultimate Leisure Group has acquired hospitality company Living Ventures for £28m.
The nightclub operator will rename the company The Living Room to reflect its portfolio of 13 restaurant and bar Living Room sites in England and Scotland. A further 17 sites will be rolled out over the next five years.
Mark Jones, chairman of Ultimate, said: “The Living Room is an excellent brand with a very attractive customer offer. This acquisition represents a big move towards meeting our strategic priorities and at a sensible price. At the same time, The Living Room will benefit from much greater investment as we look to more than double the number of sites in the next 5 years.”
The brand was launched in 1999 and won the Flavour Bar Awards – Retail Brand of the Year in 2005.
In addition, Ultimate acquired the Bel and Dragon group of pub restaurants earlier this year.
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