Tao Group Hospitality has acquired Hakkasan Group, bringing collectively two main manufacturers in nightlife, daylife and eating experiences. In complete, Tao now owns and operates 60+ eating and nightlife venues in 22 markets throughout 5 continents.
This transfer goals to additional the expansion of each manufacturers globally, as Omnia, Hakkasan and Jewel come underneath the identical possession as Tao, Marquee, Lavo and Magnificence & Essex. Significantly, this deal furthers Tao’s attain into Las Vegas, Southern California and Miami.
The Hakkasan Group staff will proceed to supervise each day operations by the route of Tao Group co-CEOs Noah Tepperberg and Jason Strauss, who shares of the brand new acquisition:
Regardless of the challenges attributable to the pandemic, we all know there’s an actual want by folks all over the world to assemble as soon as once more. As indoor eating and different hospitality experiences begin to return to common operations, we imagine our newly mixed firm shall be well-positioned to benefit from this pent-up demand, setting the stage for long-term progress.
Tao Group is a part of Madison Sq. Backyard Leisure Corp., which famously runs Madison Sq. Backyard in New York. There are additionally formidable plans within the works for MSG Sphere venues in Las Vegas and London, anticipated to succeed in completion in 2023.
No monetary particulars of the Tao Group Hospitality x Hakkasan Group merge have been offered.
Supply: Restaurant Business | Photograph Credit score: Wolf Productions