Big news for Sydney's bar and restaurant industry, Dixon Hospitality has purchased six Sydney venues previously owned by Keystone Hospitality Group, after the latter company went into receivership earlier this year. Dixon will take over immediate operational management of Bungalow 8, Cargo Bar, Manly Wine, The Rook, The Winery and Kingsley's Woolloomooloo.
The purchase sees the Melbourne-based hospitality group increase its total number of holdings to 43 across Victoria and New South Wales. Dixon's other Sydney venues include Queenies, Forresters, The Norfolk and The Oxford Tavern — Drink N Dine was bought by Dixon in January 2016. They're also planning to open a 1000 square-metre restaurant and bar at Barangaroo.
"Growth is critically important to us, particularly as we are considering an IPO at some point next year," Dixon CEO Bruce Dixon told Business Insider. "This acquisition of the six Keystone venues will give us some good presence in Sydney and will complement our Barangaroo venues, which are currently under construction."
Negotiations for the remaining Keystone venues, including Chophouse Sydney, Gazebo and Sugarmill Hotel as well as the six restaurant strong Jamie's Italian franchise, are currently ongoing.