DIAFA Acquires £1B Stake in Richard Caring’s Restaurant Empire

Abu Dhabi-based hospitality investment platform DIAFA has acquired a majority stake in British restaurateur Richard Caring’s restaurant empire in a transaction valued at more than £1 billion ($1.3 billion). The deal includes some of London’s most prominent dining and private members’ club brands and marks a significant expansion of DIAFA’s global luxury food and beverage portfolio.

The acquisition brings multiple high-profile assets under DIAFA’s control, including Annabel’s, The Ivy Brasseries, and Caprice Holdings’ restaurant portfolio. The transaction reflects increasing investment activity from Gulf-based entities targeting premium hospitality assets in international markets.

Portfolio Includes Iconic London Dining and Club Brands

The deal covers a broad range of premium dining and membership-based hospitality venues. Among the key assets are Annabel’s, part of The Birley Clubs portfolio, as well as George, Harry’s Bar, and Mark’s Club. These properties are known for catering to high-net-worth clientele and maintaining exclusive membership models.

In addition, the Caprice Holdings portfolio, also included in the transaction, features well-established restaurant brands such as Scott’s, Sexy Fish, and Noema. The Ivy Brasseries, which operate across multiple UK locations, are also part of the acquisition, adding a scalable casual-premium dining component to the portfolio.

Collectively, these brands represent a mix of fine dining, casual upscale restaurants, and private members’ clubs, positioning the combined portfolio across multiple segments within the luxury hospitality market.

Transaction Structure and Leadership Continuity

While DIAFA has taken a majority stake, Richard Caring will remain actively involved in the business as executive chairman. He will continue to oversee strategic direction and brand development across the portfolio.

The financial details beyond the overall valuation were not disclosed, and no advisory firms were named in connection with the transaction. However, the valuation, described as a 10-figure sum, indicates one of the largest recent deals in the global restaurant and hospitality sector.

DIAFA has appointed Ravi Thakran as group chief executive to lead the expanded platform. Thakran previously served as group chairman of LVMH Asia and founded L Capital Asia, managing investments exceeding $4 billion across 32 companies during his tenure.

Strategic Expansion Across Global Markets

The acquisition strengthens DIAFA’s presence in the UK and supports its broader strategy of building a global portfolio of premium hospitality brands. The company indicated that several brands within the acquired portfolio are being positioned for international expansion.

Annabel’s is expected to expand into the United States, with a planned opening in New York. Other brands, including Scott’s, Sexy Fish, and Noema, are also targeted for further global roll-out in key international markets.

The Ivy Brasseries, which have already expanded across the UK, are being evaluated for potential entry into the US and additional international regions. This multi-brand expansion strategy is aimed at leveraging established brand equity while entering new geographies.

DIAFA’s Growing Hospitality Platform

DIAFA, an affiliate of IHC Group, the UAE’s largest listed company, was established to consolidate high-end hospitality brands into a single scalable platform. The company has been actively acquiring and managing premium dining and nightlife concepts globally.

Its existing portfolio includes Azumi Group, which operates the Zuma and Roka restaurant chains, and The h.wood Group, known for venues such as Delilah and The Nice Guy. The addition of Richard Caring’s assets significantly expands DIAFA’s footprint in both Europe and international luxury dining markets.

The strategy focuses on assembling culturally significant brands with strong identity and long-term growth potential, aligning with trends in experiential consumption among affluent consumers.

Rising Investment in Luxury Hospitality Assets

The transaction highlights a broader shift among sovereign-backed and Gulf-based investment firms toward acquiring premium global assets. Hospitality, particularly high-end dining and lifestyle venues, has emerged as a key area of interest as investors seek diversification beyond traditional sectors.

Luxury food and beverage brands are increasingly viewed as scalable platforms that can expand across markets while maintaining premium positioning. The combination of strong brand recognition and experiential appeal makes such assets attractive for long-term investment.

In this context, DIAFA’s acquisition of Richard Caring’s restaurant empire represents a strategic move to consolidate and expand its position within the global luxury hospitality sector. The integration of these assets into its platform is expected to support further growth and international market penetration.