Stonepeak to acquire Arvida for $1.25bn.

Stonepeak, an alternative investment firm specializing in infrastructure, agreed to acquire Arvida, a New Zealand-based aged care provider, for $1.25bn. “As a private entity under Stonepeak’s ownership, Arvida would be able to further strengthen the execution of the Company’s multi-faceted strategy: to sustain and enhance Arvida’s core business; to develop quality communities; to acquire complementary properties; and to deliver quality services to aging communities. We believe Stonepeak has a sound understanding of Arvida and the New Zealand retirement village market, and Stonepeak’s strategy is aligned with Arvida’s values and vision. Stonepeak intends to bring significant capital and operational expertise to support Arvida’s senior management team and business plan,” Anthony Beverley, Arvida Chair of the Board.