Minor Hotels has taken a “significant” stake in the UK-based Corbin & King.
The hotel owner plans to expand this close partnership with Corbin & King throughout the UK and internationally, to grow a portfolio that currently includes the celebrated destination restaurants The Wolseley, The Delaunay, Brasserie Zédel and The Beaumont Hotel.
The deal is reportedly worth nearly £60 million and will see Minor take a controlling stake in the business.
Corbin & King was founded in 2003 by Jeremy King and Chris Corbin, comprising an illustrious restaurant and hospitality portfolio across London.
Six brasserie-style restaurants include The Wolseley in Piccadilly, which upholds a prestigious reputation for its modern European cuisine, afternoon tea and grand Art Deco glamour.
Five more highly acclaimed restaurants include The Delaunay in Aldwych, Brasserie Zédel in Piccadilly, Colbert in Sloane Square, Fischer’s in Marylebone, and Bellanger in Islington.
The company also operates the celebrated 73-key Art Deco five-star hotel, The Beaumont, in the heart of Mayfair.
Dillip Rajakarier, chief executive, Minor Hotels, said: “We at Minor Hotels 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.”
The new investment replaces a previous shareholding by the private equity company Graphite Capital.
The Corbin & King co-founders Jeremy King and Chris Corbin will remain shareholders and King will continue to run the business as chief executive.
King said: “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.
“I look forward eagerly to the opportunities this presents.”