British entrepreneur Richard Caring has announced the sale of a majority stake in his British hospitality group, which includes the renowned Ivy restaurant chain and the exclusive Annabel’s club in London, to the hospitality division of a global holding company. The deal is valued at over £1 billion, as reported by the Financial Times.
Despite this completion of the transaction, Caring, famously known as the “King of Mayfair,” will continue to serve as the Chief Executive of the group. He will guide the upcoming phase of international expansion in collaboration with the new parent company, under the leadership of Ravi Thakran, the former head of LVMH in Asia.
In a statement, Caring expressed confidence that the newly formed entity would help elevate his brands into new markets, reinforcing the group’s vision within the luxury hospitality sector.
In a note to members of the private Berkeley group, he confirmed that this agreement would enable greater support for investment in and development of the clubs, alongside the implementation of a strategic international expansion plan that targets a limited number of carefully selected locations.
Caring also revealed plans to open an Annabel’s club in New York by late 2027, as part of the broader global growth strategy for the brand.
As one of the prominent figures in the UK’s hospitality industry, Caring boasts an extensive portfolio in London’s hospitality sector, which encompasses the Ivy restaurant group, Annabel’s club, the Bill’s restaurant chain, and Caprice Holdings, which includes upscale dining options like Sexy Fish, Scott’s, and Bacchanalia.
This acquisition is expected to enhance the portfolio of the hospitality group, which already includes luxury brands such as Zuma and Roka from the Azumi group, along with H.Wood Group in Los Angeles, thus bolstering its presence in the global hospitality market.