Good Spirits Hospitality snaps up Soul Bar owner

Good Spirits Hospitality snaps up Soul Bar owner
The acquisition will more than double the size and earnings of GSH. (Image: supplied)
Rebecca Howard
Good Spirits Hospitality has inked a conditional deal to buy Nourish Group for about $27 million. The move will double its venues to 20, including Soul Bar & Bistro and its soon-to-be-opened new Viaduct venue. The base purchase price is about $21.3m cash (on a debt free/cash free basis) with up to an additional $5.9m payable 12-to-24 months after settlement through an agreed earnout formula based on venue outperformance.Nourish Group shareholders include Foley Family Wines, which has a 24.9% stake. The full purchase price wil...

More Retail

Website duplication scams haunt NZ retailers
Retail

Website duplication scams haunt NZ retailers

Increasingly sophisticated obfuscation technology is making scams harder to resolve.

Gregor Thompson 22 Apr 2024
Menulog exits NZ
Retail

Menulog exits NZ

Online food delivery platform Menulog will discontinue its New Zealand operations in May.Parent company Just Eat Takeaway confirmed the decision today, saying: “New Zealand represents a small part of the Just Eat Takeaway.com business and its size is insufficient to maintain a he...

Staff reporters 16 Apr 2024
Grocery code now in full effect, ComCom reminds suppliers
Retail

Grocery code now in full effect, ComCom reminds suppliers

The Grocery Supply Code went into effect on March 28.

Staff reporters 16 Apr 2024
Easter trading laws could be repealed
Retail

Easter trading laws could be repealed

Bill drawn from ballot would allow shops to open on Good Friday and Easter Sunday.

John Anthony 11 Apr 2024