Nazarian: Deal to close within 60 days
Sam Nazarian’s sbe has unveiled plans to merge with Hakkasan Group, a high-profile operator of restaurants and nightclubs.
"sbe is in advanced discussions with Hakkasan Group regarding a potential merger,” says Nazarian, founder and ceo of sbe, a Los Angeles-based lifestyle hospitality company. “As currently contemplated, sbe would welcome Hakkasan's global portfolio of prestigious restaurants and best in class nightlife assets into sbe's international platform of lifestyle hospitality and entertainment assets to create the most dynamic hospitality, residential, restaurant and entertainment company in the industry.
Nazarian says the merger—the latest in a string of expansion moves by his firm—is expected to close within 60 days. Terms of the planned deal were not disclosed.
sbe’s hotel holdings include SLS Hotel & Residences, Delano, Mondrian, Redbury, Hyde Hotel & Residences, Clift, Hudson, Morgans, Royalton, Sanderson and St Martins Lane. In addition, the company operates the following restaurants and lounges: Katsuya, Cleo, The Bazaar by José Andrés, Fi'lia by Michael Schwartz, Umami Burger, Hyde Lounge and Skybar.
The operations of Las Vegas-based Hakkasan Group include a restaurant portfolio that includes 11 namesake locations worldwide, along with locales bearing the Ling Ling, Yauatcha, HKK, Sake no Hana, Herringbone and Searsucker flags. Its nightlife/daylife brands are Hakkasan Nightclub, Wet Republic, OMNIA and Jewel. According to its website, the group is owned by Alliance Intl. Investments LLC, an investment company based in Abu Dhabi.
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