Skip to content Skip to Search
Skip navigation

Gulf SWFs named as potential suitors of The Ivy

The Ivy outlet in London Petra Figueroa/SOPA Images
The Ivy name now appears on a host of outlets in the Ivy Brasserie and Ivy Cafe chains
  • £1bn price tag on restaurant chain
  • Sale expected by end of June
  • Ex-PM of Qatar currently owns 50%

Gulf sovereign wealth funds are among a host of buyers said to be interested in taking charge of the group behind the UK’s prestigious Ivy restaurant.

A £1 billion ($1.26 billion) sale is expected to be complete by the end of June.

Troia, the company that owns the Ivy and some 50 other restaurants, is 50 percent owned by Sheikh Hamad bin Jassim bin Jaber al-Thani, the former prime minister of Qatar.

The other half of Troia is owned by the British businessman Richard Caring.

A report in The Times said the sheikh was looking for a complete sale, while Caring was hoping to sell half of his stake and retain a 25 percent interest in the company.

Troia’s holdings include the Ivy Asia, Ivy Brasserie and Ivy Café brands, Granary Square and the Brasserie of Light at Selfridges. The flagship Ivy restaurant, in the heart of London’s theatreland, has been attracting celebrities for around a century.

As many as 10 sovereign wealth funds and family offices are said to have registered interest in the sale, including the Abu Dhabi Investment Authority (ADIA) and Mubadala.

AGBI has contacted ADIA, Mubadala and The Ivy Collection for comment.

Gabrielle Mather, founder and CEO of the business consultancy Restaurant Secrets, said larger organisations were realising that the food and beverage industry “is very lucrative if played right and with sufficient capex and budgets to sustain a longer ROI period for investors”.

“These funds don’t invest lightly and they usually have expertise on board that can spend the time for due diligence and discern the potential risks involved with a major move like this.”

HSBC has been charged with overseeing the sale.

Troia had earnings of £55 million before interest, taxation, depreciation and amortisation in 2022.

Latest articles

Waste To Energy Biogas plant with solar, battery station and E-car charging station

African renewables are ripe for investment, says Irena

Africa accounted for less than 1 percent of the new renewable energy sources added globally last year, and a conference in Abu Dhabi this week called on wealthy investors to help the continent achieve its targets. Amani Abu Zeid, commissioner for infrastructure and energy of the African Union Commission, told the International Renewable Energy Agency […]

Saudi Arabia Ronnie O'Sullivan snooker

Ronnie O’Sullivan to be Saudi snooker ambassador

Saudi Arabia has signed a deal with the world’s top snooker player, Ronnie O’Sullivan, for him to act as an “ambassador” for the sport in Saudi Arabia.  It was announced alongside news that Saudi Arabia has become an official sponsor of the World Snooker Championship that begins this weekend in Sheffield, UK. Under the three-year […]

UAE Costa Rica Cepa

Costa Rica added to UAE economic partners

The UAE has signed a comprehensive economic partnership agreement with Costa Rica, the latest in a string of trade deals around the world over the past two years. It is the first time the South American country has signed an agreement with a Middle Eastern country. The agreement will improve trade flows between the two […]

A man wades through a flooded street in Dubai. Some areas of the UAE received more than a year's worth of rain in one day Video length: 03:08

UAE president orders review after flooding

The UAE’s president, Sheikh Mohamed bin Zayed Al Nahyan, has ordered an urgent review of the country’s infrastructure after historic levels of rainfall brought the Gulf state to a standstill, with some areas seeing more than a year’s worth of rain in one day. The president has contacted authorities “to quickly work on studying the […]