D&D London sells stake in Copenhagen restaurant business
D&D London has sold a 50% stake in its Custom House restaurant business in Copenhagen to a consortium of Danish investors.
The move comes after the restaurant group, which also operates outlets in Paris, New York and Tokyo, put its London restaurant portfolio up for sale to raise new investment for future expansion.
D&D London chairman and CEO Des Gunewardena commented: "We are very proud to have opened and established our restaurants at Custom House. Bacino, Bar & Grill and our events spaces at Custom House have become firmly part of the Copenhagen scene. Going forward, however, we feel that the restaurants will benefit from the involvement of local partners in the business and that is why we have sold a stake in the company."
Gunewardena added that D&D London would remain a supportive investor in Custom House for the foreseeable future.
D&D London, which was formerly known as Conran Restaurants and operates restaurants including Quaglino's, Launceston Place and Orrery, is owned 51% by Sir Terence Conran and 18% by Cared Capital, who are understood to be looking to sell their shares in the business.
It is understood that Gunewardena and managing director David Loewie will expect to remain at the helm of the group under the new ownership.
The company, which also runs Skylon, Bluebird and Plateau, hopes to significantly grow its portfolio both in the UK and overseas.
D&D London will expand its offering in the City this summer by opening its first hotel at South Place, which will include 80 bedrooms, meeting and private dining facilities and a rooftop restaurant. It will also open two new restaurants in the City: a steak/chop house and a fish restaurant, as well as a wine shop, at the Grade II-listed Old Bengal Warehouse off Bishopsgate.
D&D London's South Place hotel to partially open for the Olympics >>
D&D London puts restaurants up for sale to fund future expansion >>
By Kerstin Kühn
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