At last, someone has published a complete list of the pubs that Lion Nathan have bought in Victoria for what they claim was only $65 million.
CUB have made amazing inroads into the Perth market over the years. Cast your mind back to 1986 and Bondy then had more than 90 per cent of the market but this is now back down towards 50 per cent and falling fairly rapidly.
It would be fair to say that CUB probably paid several million to Subiaco for the pourage rights when you consider that they paid almost $20 million for the exclusive pourage rights at Docklands Stadium in Melbourne last year. It was this move and the new pourage rights deal at the MCG that saw CUB deliver a very disappointing second half profit in August last year. All eyes are focused on the upcoming first half profit for Foster’s in February.
Ironically, that $20 million CUB paid Colonial went straight to Ron Evans and the boys at Spotless to terminate their venue management contract. Colonial lost $25 million last year and is in about as much strife as Stadium Australian since ANZ pulled out of its $50 million naming rights deal. Who’d want to be in the business of owning stadia? It’s a dog.
Similarly, stories abound of how bad the Lion Nathan strategy of buying up 45 trendy Victorian pubs is going. They’ve paid a motza for all the pubs around Melbourne Uni so it is now a VB free zone. Many students are walking that bit further to get the cherished green label icon. We understand that one of the pubs around Melbourne Uni have a sneaky unmarked VB tap out the back for die-hard customers who refuse to drink anything else.
And can you believe Lion Nathan bought Melbourne’s most famous night club, The Metro in Bourke St, and built an almighty bar in the middle of the stage so that they can no longer have any major bands play there. It’s madness.
At first Lion Nathan said they paid about $45 million for the pubs but now the publicly stated figure is up to $65 million. If you know the individual prices paid for some of these pubs then send them through and we’ll try to add it all up.
For instance, we’re told by a neighbour of the Metro that the famous Bourke St night club changed hands for $9.5 million – the biggest price paid for a single venue. And another theory is that Lion Nathan’s Japanese parent Kirin is a 50-50 joint venture partner with its 45 per cent subsidiary, thereby reducing the direct spend by Lion Nathan.
Crikey does not break too many genuine news stories but the Lion Nathan move on Victoria’s pubs was one such example last February. For some reason, no-one has ever produced a full list of the pubs they bought so here it is. If you have a story about the ownership change from the one of these pubs we’d love to hear from you.
The 45 pubs Lion Nathan have bought
21 Arms Hotel, Ballarat
Albert Park Hotel, Albert Park
Builders Arms Hotel, Fitzroy
Byblos Caf Bar (formerly Station Bar), Prahran
Canada Hotel, Carlton
Casey’s Nite Spot, Hawthorn
Cherry Tree Hotel, Richmond
Clarendon (formerly Intrepid Fox), Sth Melbourne
Clude Hotel, Carlton
Court House Hotel, Bendigo
Darby Ogills, Bendigo
Dogs Bar (Hotel Columbo), St Kilda
Eclipse Nightclub (Royal Mail Hotel), Bendigo
Felix Bar, St Kilda
Geebung Polo Club, Hawthorn
Geebung Polo Club, Flemington
Geelong Hotel, Geelong
Golden Gate Hotel, Sth Melbourne
Governor Hotham Hotel, Hawthorn
Grace Darling Hotel, Collingwood
Hogs Breath Caf, Ballarat
Imperial Hotel, Sth Yarra
Limerick Arms Hotel, Sth Melbourne
Melbourne Depot, Richmond
Metro Nightclub, Bourke St City
Molly Blooms, Port Melbourne
Naughtons Hotel, Parkville
Perseverance Hotel, Fitzroy
Preston Hotel, Geelong
Prince Alfred Hotel, Carlton
Provincial Hotel, Fitzroy
Queensberry Hotel, Carlton
Rattle n Hum, Ballarat
Red Eagle, Albert Park
Richmond Club Hotel, Richmond
Rob Roy Hotel, Fitzroy
Sante Fe Hotel, Melbourne
Star Bar, Bendigo
Studio 54, Bendigo
The London Bar Caf, Port Melbourne
The Match Bar and Bakehouse, Bendigo
The Max Hotel, Geelong
Tonic Lounge Bar, Bendigo
Veludo Bar Restaurant, St Kilda