PAG Asia to acquire Craveable Brands, from Archer Capital.

Hong Kong-based private equity firm PAG Asia Capital has fully acquired Australian restaurant chain operator Craveable Brands from Archer Capital and minority shareholders. Financial terms were not disclosed. Craveable Brands claims to be the largest Australian-owned operator of quick services restaurants with over 580 stores under the Oporto, Red Rooster and Chicken Treat brands. It also operates restaurants in New Zealand, Singapore, and Sri Lanka and is preparing to launch new stores in Vietnam and the Middle East. “Craveable Brands is a terrific asset in the Australian QSR market, owning three iconic brands with significant scale. We see great opportunities for Craveable and look forward to working with management on the next stage of portfolio innovation,” said PAG chairman and CEO Weijian Shan.