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Loungers to Be Acquired by U.S. Firm Fortress Group for £338M

2 hours ago

Loungers to Be Acquired by U.S. Firm Fortress Group for £338M
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7 Highlights

  • Loungers to be acquired by Fortress for £338M.
  • Deal covers 280 Loungers sites including Lounge and Cosy Club.
    • Loungers started with £10,000 in Bristol in 2002.
    • Fortress believes in Loungers' strong market position.
    • Offer includes 30% premium over current share price.
    • Chairman Reilley supports Fortress for growth.
    • Fortress recently invested in UK's Curzon cinemas.
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