Public Hospitality increases its $600M asset base with The Maybe Group acquisition
Public Hospitality is building a hospitality empire to rival Justin Hemmes after its acquisition of The Maybe Group.
The Jon Adgemis owned Public has added to its $600 million empire with The Maybe Group behind Australia’s best bar – Maybe Sammy in The Rocks which is the only Australasian Bar to be named in The World’s 50 Best Bars for the past four years.
Public is behind the revitalised Lady Hampshire and Oxford House in Paddington and will put Vincenzo Lombardo, Stefano Catino and Martin Hudak in charge of its new property.
The purchase price is confidential.
Public has previously worked with The Maybe Group on Paddington’s El Primo Sanchez venue, which opened in Paddington in February. However, the companies have been discussing the acquisition for nine months.
“Beyond being guest-first, our key priority at Public is culture and people, so making sure the groups worked well together throughout the process of opening El Primo Sanchez in Paddington was crucial,” Adgemis said of the final acquisition decision.
Over past 12 months, the former KPMG investment banker has built an impressive pub empire in Sydney. Adgemis has been behind the relaunch of Darlinghurst’s The Strand Hotel and Balmain’s The Exchange Hotel and has purchased Bondi’s Noah’s Backpackers for $68 million among other acquisitions.
The Maybe acquisition also gives Public international presence.
Maybe Group will help Public re-imagine its cocktail offerings at other Public venues, including hotels. During the group’s Maybe Cocktail Festival, they sold an estimated 4000 cocktails in a week.
There is an eye to interstate expansion as well.
Lombardo is happy to be joining the Public team.
“We’re feeling more inspired than ever with the exciting new concepts underway, and we’re looking forward to welcome guests into the next generation of hospitality with Public and The Maybe Group,” Lombardo said.
Adgemis is now eyeing of other acquisitions.
“The acquisition of The Maybe Group is another example of how Public sets itself apart in the market,” Adgemis said.
Jonathan Jackson, 19th April 2023
