Richard Caring confirms sale of restaurant empire in ‘ten-figure transaction’

Richard Caring has confirmed the sale of his restaurant group that includes the Ivy, Caprice Holding and the Burley Clubs in a “ten-figure transaction”.

DIAFA, Abu Dhabi’s new Global Luxury & Hospitality Investment Platform, has bought the business in a deal thought to be worth £1.4b.

As reported yesterday, the transaction includes the Ivy brasseries, along with the restaurant portfolio of Caprice Holdings - Scott’s, Sexy Fish, and Noema - and members’ clubs Annabel’s, George, Harry’s Bar, and Mark’s Club.

Caring will remain executive chairman of the business, leading the international expansion of Scott’s, Sexy Fish and Noema. The first planned opening will be Annabel’s in New York.

Abu Dhabi-based group DIAFA, which has interests in brands including Zuka, Roka, Delilah, the Nice Guy, and Bird Streets Club, said that adding Caprice Holdings to its portfolio would allow it the capacity to scale internationally.

DIAFA group chief executive Ravi Thakran, said: “This transaction marks the beginning of a new chapter in global luxury hospitality. We are curating a portfolio of the world’s most iconic and culturally defining brands, with the ambition to shape how the next generation experiences dining, social connection, and lifestyle. Together with Richard Caring, we are building a platform of enduring value and global influence."

Caring added: "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."