Australian Venue Co has doubled its Sydney footprint, striking a deal for four pubs across Sydney from awarded operators Solotel.
AVC is the second-largest pub group in Australia, with approaching 300 venues, located in every state.
It will now take on Solotel’s Golden Sheaf in Double Bay, Barangaroo House in Barangaroo, Public House Petersham in Petersham, and The Erko in Erskineville.
The group has made a regular practice of buying bundles of venues or even entire portfolios, but has experienced barriers to expansion in Sydney. It currently operates former Keystone pubs at Darling Harbour’s King St Wharf, such as Bungalow 8 and Cargo Bar.
Chief executive Paul Waterson explains the ongoing investment in AVC reflects confidence in the strategy and platform they have built, and facilitates the group’s ambitions to grow further.
“These venues are widely regarded as outstanding hospitality destinations in Sydney, reflecting the passion and dedication from the team at Solotel,” he says.
“We look forward to welcoming the teams behind them and building on that legacy.”
In 2023 PAG Group paid US private equity firm KKR $1.4 billion for a majority stake in AVC. In 2025 CVC Capital Partners bought in as equal partners, each now owning 45 per cent of the pub group.
CVC’s input bolstered what was another big year in the pub sector that saw over $2 billion in venue sales.
The transaction on four leases from Solotel is believed to total $50-60 million and is expected to be competed by April.
The Solomon family’s Solotel Group runs more than 20 pubs throughout Sydney, including their rebranded and relaunched The Woodstock, the former Carousel Inn, at Rooty Hill.
Sale of the businesses, and the pending sale next month of the freehold going concern of the Bridgeview in Willoughby, marks a reset and transition for Solotel into a “smaller, sharper” outfit as it looks to further opportunities.
“The sale to AVC represents an opportunity to refocus the business on exceptional and unique venues, rather than scale,” explains CEO Elliot Solomon.
“This decision allows us to simplify the business, reduce complexity, and focus our energy on our remaining venues as well as new projects where we can be more hands-on.”
Beyond the divestments, Solotel will reportedly not be renewing its management contracts at the Sydney venues it took on late 2024 year, repossessed out of Jon Adgemis’ Public Hospitality Group.
The group says it will continue its partnership with Matt Moran and has disclosed a new collaboration dining experience in Sydney.
Solomon offers the reshuffle is about setting Solotel up for long-term success.
“We remain deeply committed to hospitality and evolving Solotel, with our upcoming Macquarie Street restaurant and the relocation of The Albion to Smith Street, Parramatta.”
