Cannae Holdings Acquires Exeter Rugby Group: Elevating Success in English Rugby
Cannae Holdings, Inc. has acquired Exeter Rugby Group, a prominent rugby union club based in Exeter, Devon, England. Exeter Chiefs, as they are known, have a strong history of success in the rugby world, with multiple titles and a financially sustainable model. The acquisition values Exeter at £32.6 million, with Cannae investing £19.6 million at closing. This move aligns with Cannae's focus on sports and entertainment assets, leveraging its expertise to drive growth and returns.
Exeter's recent on-field performance, finishing as runners-up in the PREM season, sets the stage for future success. The Club's ownership of Sandy Park, a 15,000-capacity stadium, provides additional revenue opportunities beyond matchdays. Cannae aims to capitalize on this momentum and asset base to enhance revenue streams and overall performance.
William P. Foley, II, Vice Chairman of Cannae Holdings, expressed excitement about the acquisition, highlighting the potential for growth and success. Tony Rowe CBE, Chairman and CEO of Exeter Rugby Club, emphasized the partnership with Cannae as a strategic move to elevate the Club's competitiveness in English and European rugby. The acquisition aligns with Cannae's strategic priorities and adds a valuable sports asset to its portfolio.
Cannae's CEO, Ryan R. Caswell, sees the acquisition as an opportunity to enhance both the Club and the League, leveraging Cannae's experience in operating sports assets. The collaboration between Cannae, Exeter, sponsors, and supporters aims to build on the Club's momentum and drive success on and off the field. The acquisition presentation is available on Cannae's website for further details.
Exeter Rugby Club, founded in 1871, has a rich history of success in both men's and women's rugby. The Club's ownership of Sandy Park, a premier stadium and events venue, adds value to its operations. Cannae Holdings, Inc. focuses on acquiring interests in operating companies to maximize shareholder value through active management and long-term ownership.