One of Australia’s most prominent chefs and restaurateurs, Neil Perry, is in discussions to sell most of his restaurant empire.
According to an article by John Lethlean in The Australian today, the Sydney chef is close to finalising a deal with Quadrant Private Equity, the company behind Urban Purveyor Group. If it goes through, Quadrant will buy three Rockpool Bar & Grills, two Spice Temples, Rosetta and the expanding Burger Project chain.
It’s understood Perry’s new Sydney fine-diner, Eleven Bridge, will not be sold, but Perry plans to remain in the business in a hands-on role after the sale, both with the existing restaurants and the development of new UPG venues.
Speaking with Broadsheet this evening, the Rockpool Group publicist confirms Perry and co-director Trish Richards are in discussions with parties interested in investing in the business, but nothing has been confirmed at this stage.
Urban Purveyor Group has been rolling out an aggressive expansion and acquisition campaign over the past year and a half, including the purchase of the Fratelli Fresh group and a roll-out of new venues across the country.
“As part of Urban Purveyor Group’s growth plans, we are looking to acquire great brands that can add value and scale to our dining portfolio,” says Thomas Pash, Urban Purveyor Group CEO. “We are in discussions with several players, however we have nothing to announce at present.”
Broadsheet will bring more news as it comes to hand.