Rockpool Dining Group – the hospitality empire that oversees more than 85 venues, including Fratelli Fresh, Bavarian, Rockpool Bar & Grill, Spice Temple, El Camino Cantina and Saké, and revenue in excess of $400 million – announced today it will split into two separate businesses.

The company was formed in 2016, when Urban Purveyor Group acquired Neil Perry’s hospitality business, which included premium eateries such as Rockpool Bar & Grill and Spice Temple. Perry is now parting from the group and taking those premium restaurants with him, along with Rosetta and R Bar, with the new company to be called Rockpool Group.

The remainder of the business will be run by its existing executive team and renamed Pacific Concepts. That company will retain casual eateries Saké Restaurant & Bar, The Cut, Bar Patrón, Fratelli Fresh, El Camino Cantina, The Bavarian, Munich Brauhaus, Beerhaüs, Winghaus by Bavarian and The Argyle.

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Pacific Concepts will run the 10 brands and more than 70 venues from the group’s headquarters in The Rocks, which it has retained, along with the majority of its team, including the HR, marketing, finance and payroll, IT, reservations and events divisions. It also has plans to expand to the US, with the first opening in LA expected by mid-2020.

Rockpool Dining Group’s Chairman Jonathon Pearce said in a statement that “the separation will enable both entities to fully focus on their own strategic and ambitious growth plans, unrestricted by the larger group. This split is the natural evolution of the strategy and will ensure each business can access capital and capitalise on opportunities in the future.”

When the two companies amalgamated in 2016, Rockpool Dining Group had 47 venues and revenue of $350 million. Perry was appointed culinary director and took equity in the company, telling Broadsheet at the time, “I'll be a very trusted advisor and a very important part of the team on all things culinary and conceptual, and particularly building a story with our staff.”

The Rockpool Dining Group was forced in 2018 to back pay staff $1.6 million following accusations of wage theft and a payroll review conducted by accounting firm PricewaterhouseCoopers.

The division of the two businesses is expected to be complete within the next 30 to 60 days.

Broadsheet has sought comment from Neil Perry, but had not heard back at the time of publication.