This week's top news stories include James Cochran quietly closing Valderrama’s, Clare Smyth being named team president of Bocuse d’Or UK, and The Fat Duck owner, SL6, returning to profit.
The US-centric Tao Group Hospitality, which owns the Hakkasan restaurant group, has been sold to a global investment firm owned PokerStars co-founder Mark Scheinberg in a deal worth $550m.
Mohari Hospitality, an investment firm focused on the luxury lifestyle and hospitality sectors, announced today that it will acquire Tao Group Hospitality, a global leader and innovator in restaurants, nightlife, and entertainment from Madison Square Garden Entertainment Corp. (NYSE: MSGE) ( MSG Entertainment ) and other limited partners. The transaction values Tao Group Hospitality at $550 million and is expected to close in May, subject to customary closing conditions.