DIAFA takes control of Richard Caring’s hospitality assets
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.
Umesh Ellichipuram