Graphite divests Corbin & King to Minor Hotels

The Thai trade buyer said in a statement that the "total investment value" stood at £58m, which a source confirmed to unquote" represents the enterprise value of the company.

Since Graphite first provided the business with expansion capital in 2012, Corbin & King has expanded its number of restaurants from two to six and opened a luxury hotel in London, the Beaumont in Mayfair.

According to a statement, revenues in the restaurant division have "more than trebled" during the five-and-a-half-year period, and now stand at around the £45m mark. The company's headcount has also increased by 150%, with 900 staff currently employed by Corbin & King.

A spokesperson for Graphite declined to comment on the returns generated by the sale.

Under its new owners, Corbin & King will look to expand both nationwide and internationally.

Previous funding
Graphite invested £21m in Corbin & King (then known as Rex Restaurants) in April 2012, with capital drawn from Graphite Capital Partners VII.

Company
Founded in 2003, London-headquartered Corbin & King is a luxury restaurant, bar and hotel group. Its restaurants include the Wolseley, the Delaunay, Colbert, Brasserie Zédel, Fischer's and Bellanger.

According to publicly available documents, the group generates a turnover of £54.2m, with adjusted EBITDA of £4.1m.

People
Graphite Capital – Andy Gray (senior partner); Omar Kayat (partner).

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Graphite Capital
• Trade sale