Fortress completed the acquisition of Loungers for £354m.

Fortress, an investment management company, completed the acquisition of Loungers, a group that operates café bars, café restaurants, and roadside dining across the United Kingdom, for £354m. “Today marks the start of a new chapter for Loungers as a privately held company with a new ownership structure, and new partners in Fortress. Nick and I are very much looking forward to working with Fortress to accelerate Loungers’ growth and seizing this great opportunity to take the business to the next level," Alex Reilley, Loungers Chairman.