Restaurateurs Anthony Demetre and Will Smith have sold Les Deux Salons restaurant on William IV Street near London's Trafalgar Square to Prescott & Conran.
The pair opened the 170-seater restaurant in October 2010 said they felt it was now time to "move on and explore other ideas and restaurant venues".
Prescott & Conran is a restaurant, hotel and cafe firm with three shareholders: Terence Conran, Vicki Conran and Peter Prescott.
The business already runs restaurants including Boundary in Shoreditch, Lutyens in Fleet Street, and Albion in Bankside and Shorditch.
It plans to run Les Deux Salons under its current guise in the short term, and is taking on the team of chefs and waiting staff.
There are understood to be no concrete plans for the future but 2015 is likely to see an "evolution" for the restaurant, details of which remain to be confirmed.
Commenting on the decision to sell, Demetre and Smith said: "Les Deux Salons has been our biggest restaurant to date and we have certainly learnt a lot from it and have much enjoyed the challenges and rewards it has thrown at us. However, as an evolving company we now feel it is time to move on and research fresh ideas. We are delighted to be handing over the reins to Conran and Prescott, who will no doubt continue to ensure Les Deux Salons remains a thriving venue."
Prescott & Conran said: "As a growing company we are extremely happy to have acquired Les Deux Salons and are excited about our future there. We have great respect for Anthony and Will as operators and wish them all the very best moving forwards."