Episode Details

Richard Caring, the mastermind behind Londons renowned Ivy restaurant chain, has sold his hospitality empire to Abu Dhabis Diafa, a subsidiary of IHC Group, for £1.4 billion. The deal includes iconic establishments like Annabels, Harrys Bar, Scotts, and Marks Club. Diafa plans to expand the Ivy Brasserie concept in the US and inject £1 billion into growth. Caring, aged 77, remains executive chairman. The Ivy, a century-old favorite of celebrities, was built by Caring from his clothing business, which he acquired for £31.5 million in 2005. This sale is a positive development for the UKs struggling restaurant industry, which has been hit by high taxes, regulations, and labor costs. Carings philanthropic efforts during lockdown, feeding NHS workers and vulnerable individuals, further highlight his commitment to the community. With Diafas global reach and resources, the empire is poised for expansion, blending British classics with Middle Eastern influence for new markets.

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