Australian group acquires 20% stake in Nobu

02 November 2015 by
Australian group acquires 20% stake in Nobu

Australian entertainment group Crown Resorts has acquired a 20% stake in Nobu Hospitality and Restaurant Group, for $100m (£65m).

The remaining 80% of the company will continue to be held by its founders including Nobu Matsuhisa, winner of the inaugural International Outstanding Achievement Award at the 2014 Catey Awards, actor Robert De Niro and former film producer Meir Teper.

Nobu currently operates 33 restaurants worldwide including two in London at the Metropolitan by Como hotel in Old Park Lane and in Berkeley Street. Its emerging hotel brand currently has two properties in Las Vegas and at the City of Dreams, Manila, with a further eight under development including its first for London. The 156-bedroom Nobu hotel Shoreditch is due to open at the end of 2016.

Crown Resorts, headed by James Packer, wholly owns and operates two entertainment resorts in Australia and Crown Aspinall's casino in London, as well as having widespread interests in other entertainment businesses. Nobu restaurants are already located within Crown Resorts in Melbourne and Perth.

Matsuhisa described Crown Resorts as some of the world's best five-star hospitality destinations. "James has been a passionate partner in establishing Nobu at Crown Resorts and City of Dreams and I look forward to him being our partner as we continue growing with our loyal and dedicated Nobu team," he said.

"I am humbled that Bob, Meir and Nobu have given Crown the opportunity to invest in the Nobu business at the parent company level," added Packer. "The Nobu business that they have built is now a recognised global premium brand and a testament to their hard work and commitment to excellence. The quality of the food and hospitality offerings that the Nobu brand provides is absolutely world class and has significant growth potential," said James Packer.

"I am proud that the existing three Nobu partners believe Crown will be a value add partner and I am committed to deepening the relationship between the two companies to add value and brand leverage."

Nobu Matsuhisa honoured as Cateys 2014 winners revealed >>
Nobu to launch hotel in London's Shoreditch >>

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