UAE-based investment platform and IHC Group affiliate DIAFA has secured a controlling interest in the hospitality interests of British businessman Richard Caring.
Trade Arabia reported that the transaction includes Caprice Holdings’ luxury restaurant portfolio, The Ivy Brasseries, and the broader lineup such as Scott’s, Sexy Fish and Noema.
The agreement also includes The Birley Clubs’ members’ venues, namely Annabel’s, George, Harry’s Bar and Mark’s Club.
Caring will retain his role as executive chairman under the new ownership structure, providing ongoing leadership and continuity across the brands.
The Times separately reported that the strategic interest was acquired for around £1.4bn ($1.8bn).
DIAFA and Caring plan to jointly oversee a new phase of international rollout. This includes the planned debut of Annabel’s in New York and further global openings for Scott’s, Sexy Fish and Noema.
The Ivy Brasseries are expected to continue adding sites across the UK from this year and are also being positioned for potential growth in the US and other overseas locations.
Caring was quoted by Trade Arabia as saying: “I am delighted to partner with the visionary Diafa team, and I am confident that we will bring our world-class brands to new markets and continue to elevate our vision for hospitality to exciting new heights.
“Diafa’s commitment to investing in exceptional luxury brands makes them the right partner, and I look forward to building something truly enduring together.”
Diafa is described as a luxury lifestyle group, created to assemble a global portfolio focused on high-end food and beverage concepts.
Its current holdings include Azumi Group, which operates Zuma and ROKA, and The h.wood Group, whose venues include Delilah, The Nice Guy and Bird Streets Club. Caprice Holdings and The Birley Clubs are the latest additions to this lineup.
Diafa Group CEO Ravi Thakran was quoted as saying: “This transaction marks the beginning of a new chapter in global luxury hospitality.
“Together with Richard Caring, we are building a platform of enduring value and global influence."
