London Clubs Sell for $1.9B

A significant transaction has concluded with the sale of a majority share in prestigious London clubs and restaurants, including Annabel's and The Ivy group, for £1.4 billion ($1.9 billion). The deal, finalized after two years, was orchestrated by Richard Caring, who has amassed a collection of high-end venues over two decades. The buyer is an Abu Dhabi entity ultimately controlled by Sheikh Tahnoon bin Zayed al-Nahyan.

Caring, who will continue as executive chairman, plans to leverage £1 billion in investment from the Abu Dhabi entity to expand these concepts globally. The Ivy Collection, which includes various iterations like Ivy Market Grill and Ivy Asia, reported £327 million in revenue in 2025. This expansion builds on Caring's success in scaling posh brands since 2010.

Historically, establishments like Le Caprice and The Ivy were revitalized by Jeremy King and Chris Corbin, becoming exclusive hubs for celebrities. Richard Caring acquired Le Caprice Holdings in 2005, transforming The Ivy into a widely recognized brand. His plans for Annabel's also suggest a focus on replication, similar to its Mayfair club's opulent yet accessible model.

Jeremy King has since pursued new ventures, including reviving Simpson's on the Strand. He acknowledged that Caring's approach to brand expansion differs significantly from his own. Meanwhile, Caring retains ownership of names like Le Caprice, hinting at potential future global rollouts.