Takeover Completed
Suzerain Investments Holdings acquisition of Entertainment Rewards
A$28.8m equity value
Announced 15 Oct 2025 · ASX: EAT · A$0.022 cash per share · 624% premium
Advisers
- Target
- Entertainment Rewards
- Acquirer
- Suzerain Investments Holdings
- Structure
- Off-market takeover
- Completed
- 23 Jan 2026
- Sector
- Retail and e-commerce
In the league tables
Similar deals
- Cash Converters International acquisition of Cash Converters Investment Group (29 Australian franchise stores) Oct 2025 · A$37m · Retail and e-commerce
- Rover Group acquisition of Mad Paws Holdings Jul 2025 · A$62m · Retail and e-commerce
- Turner Collective stake in Pedal Group May 2026 · A$131m · Retail and e-commerce
- Dollarama acquisition of The Reject Shop Mar 2025 · A$259m · Retail and e-commerce
- Frasers Group acquisition of Accent Group Jun 2026 · Retail and e-commerce
Sources
- 15 Oct 2025 Suzerain announces cash takeover offer for EAT shares ASX
- 28 Oct 2025 Bidder's Statement ASX
- 25 Nov 2025 Target's Statement ASX
- 17 Dec 2025 Suzerain - Commencement of compulsory acquisition of EAT ASX
- 2 Mar 2026 Off-market takeover of Entertainment Rewards mccullough.com.au

