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Rockpoint backs lifestyle brand Margaritaville

Rockpoint has made an investment in Margaritaville Enterprises LLC, a lifestyle brand.

Rockpoint has made an investment in Margaritaville Enterprises LLC, a lifestyle brand. No financial terms were disclosed. Lazard Frères & Co. acted as financial advisor to Margaritaville while BofA Securities acted as financial advisor to Rockpoint.

PRESS RELEASE

ORLANDO, Fla.–(BUSINESS WIRE)–Margaritaville Enterprises LLC (“Margaritaville”) today announced it has partnered with Boston-based private equity real estate firm Rockpoint, through a common equity investment by affiliates of Rockpoint in the company, as part of a recapitalization of certain minority investors. The strategic partnership aligns Margaritaville’s asset-light, lifestyle brand platform with Rockpoint’s fundamental value investment approach, and is expected to further drive the growth of the Margaritaville platform.

Tom Gilbane, Managing Member at Rockpoint, commented: “The Margaritaville team has built a tremendous business, creating an established brand that provides significant value to asset owners through its strong top-line performance and unique, differentiated customer experience. We believe Margaritaville is poised to capitalize on demographic and secular trends, and we look forward to helping them continue to grow the platform. We are very excited about our strategic partnership.”

“We are thrilled to partner with Rockpoint, among the largest real estate fund managers in North America, as we provide more opportunities for our consumers to have fun and relax in Margaritaville. Partnering with thoughtful real estate capital will enable us to continue to demonstrate the power of our brand and its value proposition to our asset partners,” said John Cohlan, CEO of Margaritaville. “Together with Rockpoint, we look forward to growing with our high-quality institutional partners that have already invested or committed to invest over $7.5 billion to date across our hospitality real estate projects.”

Lazard Frères & Co. acted as exclusive financial advisor, and King & Spalding LLP and Greenberg Traurig, LLP acted as legal advisors to Margaritaville. BofA Securities acted as financial advisor, and Gibson, Dunn, & Crutcher LLP acted as legal advisor to Rockpoint.

About Margaritaville:
Margaritaville Enterprises LLC (“Margaritaville”), a state of mind since 1977, is a global lifestyle brand inspired by Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation. Margaritaville features over 25 lodging locations and over 20 additional projects in the pipeline positioned across a variety of full-service and boutique hotel brands, branded for-sale real estate, premium RV destinations, and gaming properties, all complemented by an extensive suite of food and beverage concepts across more than 60 stand-alone and integrated F&B venues.