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Loungers, the highly successful Bristol-based café/bar chain, is under new ownership after being acquired by a US private equity firm for £354m. Fortress Investment Group, which owns Majestic Wines, ...

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Loungers and Fortress Investment Group have reached agreement on an increased and final offer valuing the hospitality group at £354.4m.

Loungers, which was founded in 2002 by Alex Reilley, David Reid and Jake Bishop, has been sold to Fortress Investment Group ...

The increased value implies an enterprise value of approximately £366.6m and is a multiple of approximately 8.4 times ...

Shareholders have backed an increased and final offer for the takeover of hospitality operator Loungers. The deal values the business at about £354.4m.

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A nationwide chain of cafés, bars and restaurants founded in Bristol on a shoestring £10,000 budget, is to be sold off to US ...