Terence Conran is to sell off his interest in the restaurants he first founded. Conran and equity partner Caird Capital have decided to put their shares in the D&D restaurant chain up for sale. It’ll mean a complete break from some of the iconic restaurants Conran founded when he first set up the Conran restaurants empire back in 1991.
It is understood that Conran and private equity partner Caird Capital, who own 51% and 18% of D&D respectively, are looking to sell their stakes in the business.
The move comes as D&D prepare for an apparently significant increase in the number of UK restaurants they own. They’re also looking to move further into the boutique hotel market, off the back of the launch of South Place hotel in Moorgate this Summer. And they have their sights set further afield, looking to open more restaurants abroad.
But is it the restaurants or their locations that'll prove more popular to new investors? Restaurant blogger (and sometime Hot Dinners writer) Adam Hyman thinks it's the latter. "Any investor looking at this opportunity will clearly see the value in the restaurants' locations. Quaglino's, Sartoria, Le Pont de la Tour, Floridita the list goes on. All these restaurants occupy prime restaurant sites in the West End and the City, that the likes of Richard Caring and Marlon Abela would snap up in a minute and pay good money for."
