Investor Graphite Capital is set to sell its stake in the parent company of high-end London restaurants including Zedel Brasserie and The Wolseley
Graphite is understood to have appointed PMB Capital to advise on the sale of its 45 per cent stake in Corbin and King, according to The Sunday Times.
The private equity investor first became a backer of the string of iconic restaurants, which also includes The Delauney and The Beaumont, in 2012. It invested £19m in the company, which had just opened the award-winning Dealuney grand cafe.
Recent years have been trying for Corbin and King, as sales surged to £44m in 2015, but the operating loss climbed to £2.8m.
Previously known as Rex Restaurant Associates, Corbin and King was created to manage the future expansion of the company's interests and to focus on new opportunities in London and abroad, as well as manage existing sites.
Following Graphite’s investment, Corbin and King opened the 20,000 square foot Brasserie Zédel, an all-day Parisian brasserie near Piccadilly Circus