Kāpura (formerly Wellington Hospitality Group) and Joylab (formerly Barworks) are joining forces to create Star Hospitality Group.
Acquiring the remaining shares are DB Breweries (current major shareholders of Joylab,) and will merge Joylab with Kāpura. Founders Jamie Williams and Andrew Williams will continue to serve as shareholders in Star Hospitality.
Kāpura CEO Jamie Williams will become the new CEO of Star Hospitality, while managing director of Joylab, John Hellebrekers, will be joining the Star Hospitality board. The new executive team will include executive personnel from Kāpura and Joylab, providing an even balance of both groups, as well as valuable expertise.
Star Hospitality will continue in its aim to offer outstanding Hospitality experiences in New Zealand, with the transaction expected to close in April 2023. The completion of the transaction is subject to standard consents, and further details will be released upon the closure.
Forsyth Barr is acting as a financial advisor to DB Breweries during the transition process, and Cameron Partners is acting as a financial advisor to Kāpura.
