Hospitality provider and event caterer Searcys has become part of Westbury Street Holdings (WSH), joining a collection of brands that include BaxterStorey and Benugo. WSH did not disclose the value of the deal.
WSH founder Alastair Storey becomes Searcys chairman, with the existing management team continuing to run the business.
The upmarket caterer behind the champagne bar at London’s St Pancras station and the restaurant at the top of the Gherkin, had been for sale since last November, with owners hoping to achieve £30m.
Searcys MD Chris Maddison believes joining forces with WSH is an “exciting” move.
“Searcys sits seamlessly alongside the other brands WSH owns and this transaction will provide the best of both worlds by ensuring that the company continues to operate independently, while having access to funding and advice that will provide a bright future.
“WSH has a great history of taking strong independent brands into its fold and helping them grow and prosper, while retaining the individuality that made them unique and appealing in the first place.
“Searcys is a great business that has a lot of synergy with WSH and we have long admired it,” said Storey.
“Searcys will also benefit from WSH’s huge commitment to training and development which we strongly believe with the right level of investment will see the brand go from strength to strength.”
Searcys operates in venues such as 30 St Mary Axe (the Gherkin), St Pancras International, Blenheim Palace and Westfield London. The deal includes all current assets and leases.
Searcys underwent a MBO from the Alternative Hotel Group (AHG) in 2010. Annual sales stand at around £46m.
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