Earlier quoted context omitted.
You make a good point, but I wonder what the real world business equivalent of this is? Is it the destiny of every successful café to become acquired by Starbucks one day? (assuming there's not a better comparison I should be thinking of)
Successful restaurants, bars, etc do change owners from time to time as owners retire or simply want a change of pace. I imagine the difference is the amount of money involved. It's possible for an individual to save up several hundred thousand to a million to buy an existing, profitable small business. Less so the hundreds of millions to billion+ a business like this might go for.
There’s a few smaller operations doing it as well.
The big one, Merivale, seems to have practically unlimited money to throw at interesting or struggling venues. While I really don’t like the changes they eventually make to most places they buy, I have a grudging respect for the business acumen of Justin Hemmes the owner.
He seems to have an uncanny knack for having bought a good sized venue a year or two before, in every area that becomes cool and popular. Often they’ll barely change for a few years, while the demographics around them shift, then one day they’ve suddenly been renovated and there’s a queue of b-grade celebrities all dressed up and lined up around the block waiting to get in every weekend for a month or two.
I totally get that my demographic spends less over the bar than the crowd he’s so good at attracting, but he’s ruined two of my local ex-favourite pubs in the last few years, and over decades he’s turned some of my favourite music venues in things like trashy Mexican restaurant/bars.
But yeah, even as successful as he is in his field, I doubt it’ll get him into the three comma club.