The company that provides catering for Royal Ascot has acquired a major large scale event venue in the City of London.
Rhubarb Hospitality Collection (RHC) has snapped up The Brewery, which hosts more than 500 events a year, for an undisclosed sum from Paul Lewin.
RHC itself was acquired by Oak View Group (OVG) in a deal worth more than £100m in 2023.
OVG is co-owner of indoor entertainment venue Co-op Live, which is located by Manchester City’s Etihad Stadium and opened in headline-making style earlier this year.
The Brewery’s existing management team, led by chief executive James Varah, will remain with the business.
RHC caters well over five million people every year at venues including the Royal Albert Hall, Ascot Racecourse, Sky Garden, 22 Bishopsgate, immersive live entertainment experiences Mamma Mia! The Party and Frameless.
Its chief executive, P.B. Jacobse, said: “Rhubarb has been on a steep growth curve that OVG has supercharged in the last year.
“We are delightedto add The Brewery in the heart of London to our growing portfolio and look forward to working with their team to deliver exceptional events, and continuing to provide unique, unforgettable experiences for visitors.”
Varah added: “The Brewery has developed a reputation as the go-to venue for major conferences, awards, and dinners in the City of London.
“Rhubarb has quickly become one of the leading hospitality businesses in the UK, and this partnership will enable us to further enhance our existing customer offering and develop exciting new venue opportunities in the coming years.”
According to its most recently-filed set of accounts, for the year to January 31, 2023, The Brewery reported a revenue of £21.5m up from £7.4m.
It also made a pre-tax profit of £3m, having made a pre-tax loss of £4.6m in the prior 12 months.
Its accounts for its most recent financial year are due to be filed with Companies House by the end of October 2024.