Caring reportedly nearing £1bn deal to sell The Ivy Collection
Richard Caring, the billionaire businessman known for his ownership of high-end London restaurants, was reportedly nearing a deal to sell a controlling stake in The Ivy Collection on Friday.
The sale, which Sky News said was expected to be finalised within weeks, was apparently valued at around £1bn.
Sky said the buyer was London-based firm Si Advisers, which emerged as the front-runner in the deal after several prominent investors had shown interest.
The Ivy Collection chain of high-end restaurants had grown significantly under Caring's ownership.
Sky said the latest financial figures for The Ivy Collection showed a turnover of nearly £303m and EBITDA of £54.8m.
The sale was expected to generate a substantial return for Caring, following earlier deals like the 2019 sale of a 25% stake in Caprice Holdings to a Qatari fund for £200m.
Caring's other high-profile venues, including Scott's, Sexy Fish, and private clubs like Annabel's, were not included in the deal.
Si Advisers is led by Hamza Ben Abderahmen and Ameel Somani, a private equity investor with a background at Helios Investment Partners.
Neither Si Advisers, The Ivy Collection or Richard Caring had commented on the reported deal by lunchtime on Friday.
Reporting by Josh White for Sharecast.com.
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