The owners of Corbin & King restaurant group — which includes The Wolseley, The Delaunay and Brasserie Zedel — have confirmed that they will sell a majority shareholding of the company, as reported on Monday, to the Thai-based Minor Hotel group.
King said: “We took our time to find the right partner to take Corbin & King forward and I couldn't be happier that we found Bill Heinecke and Dillip Rajakarier and their team at Minor, for whom my respect grows daily. I look forward eagerly to the opportunities this presents.”
Corbin and King will remain as minority shareholders, with King keeping his position as chief executive of the company.
"Our strategic joint venture will build upon Minor Hotels’ history of operating signature restaurants within our hotels and in third-party locations," explained Dillip Rajakarier, chief executive of Minor Hotels.
The Caterer quote Rajakarie as saying, “The attraction of Corbin & King for us is that the group’s restaurant brands are very well-known and well-positioned.” Although they will expand the restaurant and hotel portfolio of the group, the new owners wish to “retain integrity of the brands.”
City AM reported that “Separate documents filed [yesterday] showed that a new company called MI Squared will be set up, with Minor [Hotel group] holding a 74% stake while Corbin and King retain 26%.”