– Abu Dhabi-based DIAFA completed a majority acquisition of Richard Caring’s hospitality portfolio in a transaction described as being worth in the 10 figures, implying at least £1 billion ($1.3 billion)
– The deal brings leading London hospitality assets under DIAFA, including:
Annabel’s and other private members’ clubs
– The Birley Clubs, including Annabel’s, George, Harry’s Bar and Mark’s Club,
Caprice Restaurants Holdings portfolio, including Scott’s, Sexy Fish and Noema, The Ivy Collection (Ivy Brasseries)
– Richard Caring will remain executive chairman and continue overseeing strategic direction of the portfolio
– DIAFA is an affiliate of IHC Group and was created to consolidate global luxury hospitality brands into a scalable platform
– Existing DIAFA holdings include: Azumi Restaurant Group (operator of Zuma Restaurants and Roka Restaurants), The h.wood Group (venues including Delilah and The Nice Guy)
– The acquisition strengthens DIAFA’s UK footprint and accelerates international expansion plans:
▪️Annabel’s is planned to expand to New York
▪️Scott’s, Sexy Fish and Noema are targeted for global roll-out
▪️The Ivy Collection is being evaluated for expansion into the US and other markets
– Ravi Thakran has been appointed group CEO of DIAFA
▪️Former group chairman of LVMH Asia
▪️Founder of L Capital Asia, backed by LVMH and Groupe Arnault
▪️Oversaw more than $4 billion in investments across 32 companies over three decades
– Richard Caring said the partnership will enable his brands to access new global markets
– Ravi Thakran stated DIAFA is focused on building a portfolio of “culturally defining brands” with long-term value
