The Etridge brothers have sold their London gastropub group, Frandek, to Restaurant Associates for an estimated £3m.
Tom and Olly Etridge sold the Ebury in Belgravia, the Waterway in Little Venice and the Running Horse in Mayfair on 20 December. Olly will stay on in a consultancy role to complete the hand over to Restaurant Associates owner Carlo Spetale.
"We're undecided as to what our next move will be, but we will certainly be involved in the restaurant industry in the near future," Olly said.
Spetale said Restaurant Associates - not linked to Compass's fine-dining arm of the same name - could add "substantial value" to Frandek.
"I believe they are marvellous businesses," he told Caterer. "It's early days but I've identified a lot of areas, including service and food standards, where I think we can add substantial value."
Peter Woods, who has previously worked at Allium, Tante Claire and the Belvedere restaurant, has taken over as head chef at the Ebury. The restaurant's first floor is to become a jazz supper room with "live but not overpowering music," according to Spetale.
The purchase follows Restaurant Associates' announcement in August that it was planning to expand.
By Emily Manson