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Thailand-based Minor Hotels Group has purchased a majority stake in the restaurant company behind Landmark London venues, including The Wolseley and Brasserie Zédel.
Minor Hotels said it would use the acquisition of a significant chunk of Corbin & King to expand the company’s brands internationally.
No figure has been put on the deal, but Sky News suggests Corbin & King’s value should be around $80.1 million (£60 million).
Corbin & King owns a number of upmarket restaurants in London and one hotel. Jeremy King and Chris Corbin founded the business in 2003, and the pair will retain a minority stake.
The new investment replaces a previous shareholding by the private equity company Graphite Capital.
What they said
Dillip Rajakarier, CEO of Minor Hotels, said, “Our strategic joint venture will build upon Minor Hotels’ history of operating signature restaurants within our hotels and in third-party locations. We look forward to working with Jeremy and Chris to expand the Corbin & King portfolio in the UK and key international markets.”
Jeremy King, CEO of Corbin & King, put his spin on the deal.
“We took our time to find the right partner to take Corbin & King forward and I couldn’t be happier that we found Bill Heinecke and Dillip Rajakarier and their team at Minor, for whom my respect grows daily,” he said. “I look forward eagerly to the opportunities this presents.”