Hakkasan bought by Tao Group Hospitality

By Lisa Riley

Published: 29 April, 2021

Hakkasan Group has been acquired by US-based Tao Group Hospitality, for an undisclosed sum.

The deal will create a “premium hospitality powerhouse", with the combined company operating 61 entertainment, dining and nightlife venues in 22 markets across five continents.

Hakkasan’s executive team will continue to run day-to-day operations for the Hakkasan properties under the direction of Tao Group Hospitality, led by joint-CEOs Noah Tepperberg and Jason Strauss.

“Hakkasan is a strong strategic fit with a venue portfolio that not only expands our US presence, but gives us an important foothold in key global destinations,” said Tepperberg.

“Over the past 20 years, Hakkasan has built some of the most successful brands in the hospitality industry. This partnership provides a tremendous platform to use our combined scale to create new opportunities that drive value.”

Strauss added: “Despite the challenges caused by the pandemic, we know there’s a real desire by people around the world to gather once again. As indoor dining and other hospitality experiences start to return to regular operations, we believe our newly combined company will be well positioned to take advantage of this pent-up demand, setting the stage for long-term growth.”

Hakkasan executive vice-president Derek Silberstein said the business was “thrilled” to join Tao Group Hospitality. “We look forward to utilising our collective strengths to continue raising the bar for exceptional guest experiences.”

Hakkasan’s portfolio expands Tao Group Hospitality’s domestic reach in key markets such as Las Vegas, Southern California and Miami, while also significantly growing Tao’s international presence with the addition of key global additions.

This includes London, where Hakkasan operates two Hakkasan restaurants in addition to two Yauatcha restaurants and Sake no Hana.

In addition, Hakkasan operates four venues in the Middle East.

In November, Hakkasan launched a Hakkasan at home delivery service featuring some of its most popular dishes.

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