Hakkasan Ltd. Acquires Enlightened Hospitality Group Acquisition
Hakkasan Ltd., the prestigious global restaurant and nightlife group, announced today the acquisition of a controlling stake in Enlightened Hospitality Group (EHGRP), a San Diego-based hospitality development company, as well as a full acquisition of the renowned Stingaree nightclub in San Diego. The acquisitions reflect Hakkasan Ltd.'s commitment to further expand into U.S. markets and its ongoing development into a multifaceted global lifestyle brand. Through these deals, Hakkasan Ltd. is now the majority stakeholder for all EHGRP entities including highly recognized social dining properties Searsucker (San Diego, Del Mar and Austin) and Herringbone (San Diego and Los Angeles), which will be owned and operated and in a strategic partnership with the original development team. Immediately following the acquisition, both groups will embark on their first endeavor together with the launch of Herringbone at Mondrian Los Angeles opening in January 2014.
By acquiring EHGRP's established venues, Hakkasan Ltd. strengthens its position in the hospitality industry in the U.S. and will accelerate the growth of both companies by providing guests with a diverse portfolio of unmatched offerings.
"We are delighted to welcome Enlightened Hospitality Group into the Hakkasan Ltd. family as we move forward with our plans for expansion in U.S. This is an excitingtime for everyone involved and our first priority will be to expand upon thesuccess of EHGRP's current venues by introducing the existing brands into additional markets both domestically and internationally," said Nick McCabe, COO of Hakkasan Ltd.
"The partnership between Enlightened Hospitality Group and Hakkasan Ltd. is the ideal culmination of more than a decade long career in the hospitality industry for me, and most certainly marks a personal high. My experience with the Hakkasan team has been nothing but first class, and I look forward to helping to build a major international hospitality company," said James Brennan, CEO of Enlightened Hospitality Group.
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