Scheme document published for the £338 million recommended cash acquisition of Loungers by CF Exedra Bidco
December 2024
Loungers is an LSE AIM Listed substantial and growing operator in the UK hospitality sector. It operates 262 sites in England and Wales across three distinct but complementary brands, Lounge, Cosy Club and Brightside. Founded in 2002 by three friends who wanted to create a neighbourhood café-bar that they would want to go to, the Group is now the only growing all-day operator of scale in the UK and has consistently outperformed the wider UK hospitality sector over the past three years.
CF Exedra Holdings Bidco is a newly formed company indirectly owned by funds and accounts managed or advised by affiliates of Fortress Investment Group (Bidco). Bidco was formed for the purposes of the Offer and is an entity indirectly owned by the Fortress Funds.
On 28th November 2024, the boards of directors of Bidco and Loungers announced that they have reached agreement on the terms and conditions of a recommended acquisition by Bidco of the entire issued and to be issued share capital of Loungers.
Publication of the Scheme Document
The Perivan shareholder communications team was delighted to work with Jones Day who acted as legal adviser to Loungers on the Scheme and associated ancillary documents, which were successfully published and posted to qualifying shareholders on 17 December 2024.
For more information, click here.
Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.
