Stonepeak has entered into a definitive agreement to acquire all outstanding common shares of Arvida Group, one of New Zealand’s largest retirement and aged care providers, in an all-cash transaction valued at approximately $1.25 billion.
Arvida is a New Zealand–based retirement village operator that offers a range of living options to meet the needs of aged individuals including independent living and hospital-level care. Demand for high-quality retirement living in New Zealand has demonstrated strong resiliency through cycles and attractive growth in recent years. The company has grown rapidly since its formation in 2014 and is now the fourth-largest operator of retirement villages in the country, with 35 villages throughout New Zealand. Arvida has the ability to develop upward of 2,100 additional residences.
