The Booze Brothers, Adrian and Leon Saturno, sell their last eight pubs

The Booze Brothers, Adrian and Leon Saturno, have sold their last eight pubs, bringing to an end a five-decade run in the South Australian hospitality scene.

The Booze Brothers, Adrian and Leon Saturno, have sold their last eight pubs and four remaining bottle shops to Australian Venue Co, bringing to an end five decades in the local hospitality scene.

Australian Venue Co, which is majority-owned by private equity giant KKR, has bought the Saturnos’ remaining venues, including The Colonist, The Unley and The West End Tavern.

The sale follows the Saturnos selling five pubs to ALH Hotels in 2007 for a rumoured $110m and the sale of 16 bottle shops in 2000.

In a statement released by AVC, the Saturnos said brothers Adrian and Leon “have retired from the industry after 50 years and they wish to thank all the wonderful people they have worked with’’.

The eight new venues add to 10 currently operated by AVC in SA and more than 180 nationwide.

Adrian Saturno with brother Leon, celebrating the sale of their Booze Brothers retail liquor chain shops to Woolworths in March 2000.

THE PUBS WHICH WERE SOLD

• The Unley – Parkside
• The Mile End – Mile End
• Avenues Cafe Bar – Adelaide
• The West End Tavern – Adelaide
• The Colonist – Norwood
• Mick O’Shea’s Hotel – Hackham
• The Duck – Coromandel Valley
• Victoria Hotel – Strathalbyn

AVC, which flirted with listing on the ASX earlier this year before pulling the float due to the troubled hospitality market, bought 11 venues nationwide last year across Queensland, Victoria and South Australia.

AVC chief executive Paul Waterson said on Thursday the acquisitions reflected the group’s confidence in the Australian hospitality sector.

Adrian and Leon Saturno have sold eight their lost eight pubs around Adelaide and the Hills.

Paul Waterson, chief executive of Australian Venue Co, which acquired the venues.

“We see a lot of potential in the South Australian market. We’ve been operating in SA with a local team on the ground for over two years and will continue to invest in the state,’’ he said.

“These pubs have been part of their community for decades, and we’re excited to be part of the next chapter. We can’t wait to meet the team and the locals at each of these venues.”

MAPPED: WHO OWNS SA’S PUBS?

AVC made a net profit of $18.8m in the 2021 financial year, up from a $107.4m loss the previous year.

The company received $31.1m in JobKeeper payments and, according to the company’s most recent financial report, “additional support has been provided by government in the form of grant income, combined with deferrals and waivers of various taxes and licence fees’’.

Leon Saturno with brother Adrian in 1987.

The Booze Brothers, Adrian and Leon Saturno, look at poker machines at the Macmont Gaming Supplies showroom in 1994.

“The group has taken rapid action to mitigate the impact of all temporary venue closures

with a clear focus on cash management and cost reductions, and supporting our staff to ensure we are able to effectively resume trading as soon as restrictions are lifted,’’ the report says.

“All venues have been open when not temporarily closed due to government restrictions.’’

The group’s full year sales revenue increased from $489.8m to $579.75m.

The purchase price for the new SA venues was not disclosed.