Richard Caring sells Ivy Collection majority stake for £1.4bn

Restaurateur Richard Caring has sold his majority stake in the Ivy Collection, in a deal worth £1.4bn - one of the largest transactions ever in the British restaurant industry.

The buyer, DIAFA, is an Abu Dhabi-based luxury hospitality group, controlled by United Arab Emirates deputy ruler Sheikh Tahnoon bin Zayed al-Nahyan - younger brother of UAE president, Sheikh Mohamed bin Zayed al-Nahyan. This will see DIAFA take control of Caring’s restaurant and private members’ club portfolio. The deal combines three aspects of Caring’s hospitality empire: the Ivy Brasseries; Caprice Holdings’ restaurant portfolio (Sexy Fish, Scott's, Bacchanalia, and others); and the Birley Clubs (Annabel's, Mark's, Harry's Bar). Bill’s is not included in the deal.

Caring will remain as executive chairman, helping to oversee the business alongside its new owners. ‘I am delighted to partner with the visionary DIAFA team, and I am confident that we will bring our world-class brands to new markets and continue to elevate our vision for hospitality to exciting new heights,’ he said on announcing the deal.

The Ivy goes international

This draws a line under a period of uncertainty around the future of Caring's businesses. In 2024 he explored a sale for the Ivy Restaurant Group, but it failed to materialise. 

The acquisition continues DIAFA’s rapid growth in the premium restaurant market. The group acquired Zuma and Roka last year, and has now added Caring’s extensive portfolio to its collection. 

‘This transaction marks the beginning of a new chapter in global luxury hospitality...'

The next stage of DIAFA’s growth plan involves expanding the Ivy brand further across the UK in 2026, before taking some of the brands into the United States and other international markets. It is understood that both Annabel's and the Ivy Brasserie are already preparing to launch in the US.

‘This transaction marks the beginning of a new chapter in global luxury hospitality,’ said DIAFA Group Chief Executive Ravi Thakran. ‘We are curating a portfolio of the world’s most iconic and culturally defining brands, with the ambition to shape how the next generation experiences dining, social connection, and lifestyle.’