| Billionaire Fashion Tycoon Sets His Sights on Soho House | |||||
Deal could net huge profits for groups' investors including Ant & Dec
Billionaire tycoon Richard Caring is believed to be in talks to buy a majority stake in the Soho House Group according to the Times Online. The group, which includes High Road House, already has a diverse band of shareholders including founder Nick Jones. According to the report, it is thought that Jones would retain ‘a significant minority stake’ and Caring would buy out the other investors who include Chiswick’s own TV twosome Ant & Dec and former BBC Chairman Gavyn Davies, who all stand to make huge profits. If the deal goes ahead, Caring will be adding Soho House to an already comprehensive portfolio of elite restaurants and private members’ clubs including The Ivy, Le Caprice and J Sheekey as well as Annabel’s nightclub and Wentworth golf club in Surrey. He also owns Signature Restaurants, which comprises of Belgos, Bierodromes and 25 Strada pizza restaurants. Caring, made his reputed £300m fortune in the fashion business supplying most of Britain’s leading clothes retailers – including M&S, Top Shop and Next. He also branched out into retail chains (Whistles), catalogues (Freemans) and labels (Amanda Wakeley). Known to be a recluse, it is unlikely that Caring will become a regular face at High Road House. October 17, 2007 |