Richard Caring has added to his already glittering estate by securing a controlling interest in ultra-hip Soho House.
Richard Caring has added to his empire by securing a controlling stake in members' club Soho House.
The former retail entrepreneur turned restaurateur spent £105 million on the stake and plans to open new branches of the members' club in Miami, Berlin, LA and Chicago.
The Soho House Club and restaurant chain joins prestigious restaurants the Ivy, Le Caprice, J Sheekey and Scotts, super-posh Annabel’s and Wentworth Golf Course.
Caring bought out 28 small share holders to secure his controlling share, while founder Nick Jones retains a 20 per cent stake and is becoming chief executive.
The first Soho House opened in 1985 and has since been joined by the Soho House in New York, Babington House in Somerset, Electric House in Notting Hill, Shoreditch House in East London and High Road House in Chiswick.
A Los Angeles branch is expected to open by the end of 2008, followed by one in Miami at the beginning of 2009.