Redcape snaps up three Wollongong pubs
Redcape Hotel Group has added three new pubs in Wollongong to its portfolio ahead of a planned public float valued at over $1 billion.
Private consortium Denfish Hotels sold the Unanderra Hotel, Figtree Hotel and Central Hotel in Shellharbour to Redcape for an undisclosed amount.
Redcape Hotel chief executive Dan Brady told the the Illawarra Mercury that the group continually evaluated the market.
"We are disciplined with our application of capital and our portfolio-management strategy. When assets become available that align with our objectives, we act," he said.
"Following the most recent acquisition of the Australian Hotel and Brewery by the group, the acquisition of the Wollongong hotels is consistent with the group’s clear focus on owning its real estate."
Sheridan Randall, 22nd October 2018
