Searcys, the upmarket restaurant and bar operator and caterer, has been sold to Westbury Street Holdings (WSH), the hospitality and catering company that owns Benugo, in its entirety for an undisclosed sum.
The move will see WSH founder Alastair Storey made Searcys chairman, with the existing management team continuing to run the business.
BDO was appointed late last year to find a buyer for the London-based business at a price believed to be around £25m to £30m. There had been speculation that Searcys would be broken up but the eventual sale was for the whole estate, which includes 30 St Mary Axe (the Gherkin), St Pancras International, Blenheim Palace and Westfield London.
WSH also operates BaxterStorey, Caterlink, Holroyd Howe and Portico.
Searcys managing director Chris Maddison said: “Searcys sits seamlessly alongside the other brands WSH owns and this transaction will provide the best of both worlds by ensuring that the company continues to operate independently, whilst having access to funding and advice that will provide a bright future.
“WSH has a great history of taking strong independent brands into its fold and helping them grow and prosper, whilst retaining the individuality that made them unique and appealing in the first place.
“Our clients will continue to receive the very highest standards of service and hospitality from the people that they know and trust, and our team will have access to training and development opportunities that are unrivalled within the industry.”
Alastair Storey, chairman and chief executive of WSH, said: “Searcys is a great business that has a lot of synergy with WSH and we have long admired it. The WSH family of businesses operates with the philosophy of celebrating the sourcing of great fresh ingredients, showing a passion for food and encouraging a nimble entrepreneurial style that provides a great customer experience.
“Searcys will also benefit from WSH’s huge commitment to training and development which we strongly believe that with the right level of investment will see the brand go from strength to strength.
“I am very much looking forward to working with the team and meeting our clients and partners.”
