Paddy McKillen Jr confirms takeover of his Press Up group by London investment firm

A deal is being finalised whereby the London-based lender is taking control of Press Up, and injecting fresh capital. It is understood that while agreement has been reached, the deal has not been signed.

In his first statement on the takeover, Mr McKillen Jr said it was a source of pride to him how Press Up, which employs about 935 people, had introduced “authentic concepts to the Dublin cityscape”, such as the Stella Cinema in Rathmines and the Workman’s Club in Temple Bar.

“In a challenging period for the sector, this transaction is really positive and allows Press Up to begin the next chapter in its story,” he said.

Today’s News in 90 seconds – 18th September 2024

“Cheyne have been a very supportive partner for a number of years and when we first began discussing with them about taking an equity position in the business towards the end of last year, it became clear straightaway this was the best path forward.

“We‘re excited for the future and for the…

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Independent.ie