Thai group Minor Hotels has taken a “significant stake” in an upmarket UK restaurant and hotel business.
The deal values Corbin & King at about £60 million and will trigger expansion of the company in the UK and overseas.
The new investment replaces a previous 45% shareholding by private equity company Graphite Capital acquired for £19 million in 2012.
Corbin & King runs six London brasserie-style restaurants including The Wolseley, The Delaunay and Brasserie Zédel as well as the 73-room five-star Beaumont Hotel in Mayfair.
Bangkok-listed Minor International has 157 hotels and resorts in 24 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean operating under the Anantara, Avani hotel and Tivoli resort brands.
Corbin & King was founded in 2003 by restaurateurs Chris Corbin and Jeremy King, who will remain as shareholders. King will continue to run the business as CEO.
Minor Hotels CEO Dillip Rajakarier said: “We are thrilled to be entering the UK market and are proud to partner with such a respected industry leader.
“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.”
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