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Ropes & Gray advises Avenue Capital on GBP107m sale of Hawthorn Leisure

Ropes & Gray has advised global investment firm Avenue Capital Group on the GBP106.8 million sale of Hawthorn Leisure Holdings, the 298-strong UK pub group, to leading UK property investor NewRiver.

Hawthorn Leisure, which was formed four years ago and was controlled by both its management and Avenue Capital, comprised a portfolio of 298 high quality community pubs. These pubs add to NewRiver’s existing pub portfolio, increasing the size of its estate to 629 pubs. Going forward, the combined NewRiver & Hawthorn Leisure estate will target scale-based synergies and other improvements in purchasing and logistics.
 
The Ropes & Gray team was led by private equity partner Kiran Sharma, supported by private equity associates Electra Callan, James Evelegh and real estate associate Will Bryant, all based in London.

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