02/2025100%LBO

Loungers acquired by Fortress Investment Group

UNITED KINGDOM Hospitality & Leisure / Hospitality / Restaurants / Chains EV £300–700M

Context

This transaction is a public-to-private leveraged buyout wherein Fortress Investment Group acquires the entire share capital of Loungers. Executed via a recommended scheme of arrangement, the operation successfully delists the target from the public stock exchange following a highly focused and competitive sale process. As part of the structured agreement, existing shareholders were offered the flexible option to exchange their shares for rollover securities alongside the primary cash offer. The strategic rationale driving this major consolidation is to leverage Fortress Investment Group's profound hospitality expertise and massive capital reserves to aggressively fuel Loungers' ambitious national rollout strategy and rapidly multiply its venue portfolio.

Loungers, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average observed in the Retail & Consumer sector (12.5x in 2025).

-> Deep-dive in Retail & Consumer market trends

Target

Loungers is a prominent operator of café bars, café restaurants, and roadside dining establishments across the United Kingdom. Managing a diverse portfolio of complementary brands, the enterprise boasts a strong track record of organic growth and robust profitability. Its success is heavily driven by an ambitious, continuous national rollout strategy and consistent like-for-like sales growth across its numerous locations. By offering highly appealing, relaxed dining and drinking environments, the firm has established a highly recognizable footprint in the domestic hospitality landscape and remains firmly positioned to continuously expand its venue network over the coming years.

Ent. Value

£300–700M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (GBP)

Year

Rev

EBITDA

EBIT

2024

2023

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REFERENCES

Valuation range: EV £300–700M

Revenue range: £250–500M

EBITDA range: £25–50M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Loungers by Fortress Investment Group are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: fortress investment group

FAQ

What transaction does this page cover?

This page covers Fortress Investment Group’s acquisition of 100% of Loungers, a British company specialised in Hospitality, in 2025, structured as a leveraged buyout (LBO).

How was the acquisition of Loungers by Fortress Investment Group valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £300–700M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Loungers’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Loungers generated annual revenue estimated in the £250–500M range and EBITDA in the £25–50M bracket (FY 2024). Detailed financial figures are available to members.

How does the valuation of Loungers compare to benchmarks in the Retail & Consumer sector?

The estimated multiple of 5x - 12x sits below the sector median of 12.5x recorded in 2025, indicating an attractive entry multiple for Fortress Investment Group or reflecting specific complexities. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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