H Wood Buys Hakkasan Stake
Founders will have exclusive development rights
Los Angeles-based H Wood Group reacquired its global rights from strategic partner Hakkasan Group in a buyback of 100% of the group’s equity stake.
Hakkasan acquired the equity stake four years ago. Now, this buyback allows H Wood founders John Terzian and Brian Toll to exclusively develop, own, license, franchise and manage all of the group’s entities.
“This decision follows years of growth with Hakkasan Group that helped us grow our portfolio of nightlife concepts in Los Angeles into a diversified hospitality brand with restaurant, nightlife, and hospitality venues across the world. We are proud of the work we've done with Hakkasan Group and our long-standing partnership with them,” Toll says.
Over the past few years, H Wood has worked to expand its restaurant and nightlife divisions with openings of two restaurants, Delilah and Petite Taqueria; a live music venue in West Hollywood, The Peppermint Club; and a Los Angeles nightclub, Poppy. As an independent company, H Wood will focus on restaurants, hotels, nightlife and event production.
“Our goal over the next five years is steadfast and focused. The H Wood Group will be expanding into new markets with our concepts while staying true to our core values, providing The H Wood Group's unique luxury appeal and unparalleled quality to incredible clientele,” Terzian says.