Annabel’s owner explores sale of stake in Ivy restaurants
RICHARD CARING is plotting the sale of a stake in his Ivy restaurant empire. The billionaire tycoon, who also owns the private member’s club Annabel’s, has hired bankers to explore options for the Ivy Collection, which runs a chain of 30 upmarket restaurants.
It is understood that talks with potential suitors are at an early stage, with no decision made over how much of Mr Caring’s hospitality empire could be sold.
Any potential deal could value the Ivy Collection at around £1bn, as first reported by Sky News.
Mr Caring, one of Britain’s bestknown restaurateurs, has been called “the king of Mayfair” based on his record of opening opulent, upscale restaurants, such as Sexy Fish, Scott’s and J Sheekey.
His career started off selling mini skirts as a teenager before he went on to become a major supplier to Philip Green’s Arcadia Group.
He moved into the restaurant sector in 2005 when he bought the Ivy and
Caprice Holdings restaurant group, which owned J Sheekey and Le Caprice at the time.
J Sheekey, Scott’s and Sexy Fish will not be included in any potential sale.
After buying the Ivy, which was founded in 1917, Mr Caring opened a private members’ club that quickly became a haunt for celebrities visiting the capital, with the likes of Tom Cruise, Nicole Kidman and Sting among its patrons.
Mr Caring’s Ivy empire has since expanded to 30 restaurants, which includes the Ivy Asia. Separately, he also owns a stake in casual dining chain Bill’s.
The most recent company filings for the parent group of the Ivy Collection show that the business recorded almost £303m of turnover in the year to January 2023.
Mr Caring boosted his personal fortune by selling a £200m stake in Caprice Holdings four years ago to the former prime minister of Qatar, in a deal which valued the business at $1bn (£790m).
A long-standing Tory donor, Mr Caring has given thousands of pounds to the Conservatives over the last two decades.
Mr Caring and HSBC declined to comment.