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The Brewery, a prominent large-scale event venue in the City of London, has been acquired by Rhubarb Hospitality Collection (RHC), the company known for catering at prestigious events such as Royal Ascot. The purchase, made from Paul Lewin for an undisclosed sum, marks a significant addition to RHC’s expanding portfolio.
RHC, which was acquired by Oak View Group (OVG) in 2023 for over £100 million, serves more than five million people annually at venues including the Royal Albert Hall, Ascot Racecourse, Sky Garden, and 22 Bishopsgate. OVG, co-owner of the Co-op Live indoor entertainment venue near Manchester City’s Etihad Stadium, continues to bolster its presence in the hospitality and entertainment sectors.
The Brewery hosts over 500 events each year and has developed a reputation as a premier venue for major conferences, awards ceremonies, and dinners in the City of London. The existing management team, led by Chief Executive James Varah, will remain in place to continue steering the business forward under RHC’s ownership.
P.B. Jacobse, Chief Executive of RHC, expressed enthusiasm for the acquisition, stating, “Rhubarb has been on a steep growth curve that OVG has supercharged in the last year. We are delighted to add The Brewery in the heart of London to our growing portfolio and look forward to working with their team to deliver exceptional events, continuing to provide unique, unforgettable experiences for visitors.”
James Varah added, “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.”
The Brewery’s financial performance has shown remarkable improvement, with revenue increasing to £21.5 million for the year ending January 31, 2023, up from £7.4 million the previous year. The venue also reported a pre-tax profit of £3 million, a significant turnaround from the £4.6 million pre-tax loss in the prior 12 months. The most recent financial year accounts are due to be filed with Companies House by October 2024.
