Updated 6/9/24
Apparently, Richard Caring is getting closer to finalising his big deal. As reported by Sky News, he's apparently about to sell to London-based Si Advisers and it is indeed going to sell for the cool £1 billion that was mooted earlier this year. It's also confirmed that it's only the Ivy Group restaurants, while all the others (like Sexy Fish) will remain in Caring's hands.
The last time Sky broke a story like this, it was confirmed by the Sunday Times a few days later, so we wouldn't be surprised to see a more formal announcement in that paper. So keep an eye out for more news on Sunday...
Original story from January 2024 follows
Ever since the launch of the first spin-off of The Ivy in Covent Garden in 2014, the Ivy Market Grill (pictured above), Richard Caring has very much been on an expansion drive. Since that opening, there are now almost 50 Ivy restaurants around the country, including eight Ivy Asias as well as the original in West Street.
Now, as fully expected by many, Caring is thinking about selling them all off. As first reported by Sky News and then confirmed this weekend in The Sunday Times, he appears to want to cash in while the going is good by selling a "controlling stake" in the Ivy Collection over the next few months. Apparently, the whole group is valued at close to a billion, so Caring stands to make a fair chunk of change if the deal goes through.
Although it was originally thought that the deal was not going to include the original Ivy, the news now is that the whole Ivy restaurant group including the original is up for sale. The deal does not include Caring's other notable restaurants like Scott's, Sexy Fish or Bacchanalia, so Caring would still be very much staying in the London restaurant game.
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