Macfarlanes and Linklaters call the shots on takeover of vodka bar chain Revolution
Norton Rose Fulbright also advising on £100m takeover bid for Revolution Bars Group
August 24, 2017 at 07:14 AM
2 minute read
Macfarlanes and Linklaters have scored the key roles on the £100m takeover bid for Revolution Bars Group by Stonegate Pub Company, the owner of chains such as Slug & Lettuce and Yates.
Revolution has more than 50 bars across the UK trading under the Russian-themed Revolution brand, known for its range of vodka shots and cocktails, and the Revolucion de Cuba brand, which sells Cuban-themed food and cocktails.
The bar group is also being pursued by rival Deltic, which owns brands such as nightclub chains Oceana and PRYZM. Revolution's board rebuffed an offer to merge with Deltic on 15 August, but has granted Deltic due diligence access, and the company said in a statement today (24 August) that it was still considering another offer for Revolution.
Shares in Revolution fell steeply in May after a trading update in which CEO Mark McQuater blamed "industry-wide cost headwinds" and the slow maturation of new Revolucion de Cuba sites for anticipated flat profit for the year.
Macfarlanes is acting for Revolution on the deal, which values the chain at £101.5m. M&A partner Harry Coghill is leading for the firm, with tax partner Robert Collard advising on share schemes matters.
Speaking to Legal Week, Coghill said: "Having floated the Revolution business a couple of years ago, and advised it for many years before that, it is obviously the end of an era to see it taken back into private ownership. There is some way to go before we get this transaction over the line, but we're excited about the business's future and the value that this deal offers to shareholders."
Macfarlanes' relationship with Revolution began when it advised private equity house Alchemy on its acquisition of the brand in 2005, and the firm also acted on its flotation on the Main Market of the London Stock Exchange in 2015.
Linklaters, meanwhile, is advising Stonegate and its majority shareholder, private equity firm TDR Capital, on the acquisition. Its team is being led by private equity partner Will Aitken-Davies and corporate partner Iain Wagstaff.
Norton Rose Fulbright is acting for Deltic with a team led by corporate partner Jon Perry.
Photo credit: Ben Sutherland Flickr
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Freshfields, MoFo Act on $1.8B TOPPAN Deal As Japan's US Buying Spree Continues
Kirkland Steers Paris-based Antin in ‘Year’s Biggest’ Infrastructure Fund Closing, at €10.2B
3 minute read
ECJ Ruling Upholds German Ban on Pure Private Equity Investment in Law Firms
4 minute readTrending Stories
- 1Decision of the Day: Judge Reduces $287M Jury Verdict Against Harley-Davidson in Wrongful Death Suit
- 2Kirkland to Covington: 2024's International Chart Toppers and Award Winners
- 3Decision of the Day: Judge Denies Summary Judgment Motions in Suit by Runner Injured in Brooklyn Bridge Park
- 4KISS, Profit Motive and Foreign Currency Contracts
- 512 Days of … Web Analytics
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
