Trowers & Hamlins advises major hospitality expansion

International law firm Trowers & Hamlins has played a pivotal role in the sale of a majority stake in Troia and Caprice Holdings, renowned for owning the Ivy Collection and exclusive private members’ club Annabel’s. The transaction, amounting to £1.4 billion, is vital for financing the group's ambitious international expansion efforts. This strategic investment was made by DIAFA, an entity connected to the global investment group IHC, equipping Richard Caring with over £1 billion in support for his long-term growth strategies. As a result of this deal, Caring will continue in his role as executive chair, overseeing operations alongside the new investor.

The transaction marks a significant milestone, opening avenues for international expansion of the group's distinguished hospitality brands, including plans for establishing Annabel’s in New York with an anticipated opening in 2027. Trowers & Hamlins is actively advising on this project as well, leveraging its extensive experience and a strong relationship with Caprice Holdings. Partner Julien Allen, who led the real estate side of the deal, stated “This transaction marks an important milestone for a client I have worked with for 20 years and reflects the scale of ambition behind the group’s international growth plans. It is an exciting moment to help support the expansion of such iconic brands into carefully selected global markets."

Allen was supported by Real Estate Associate Tom Hosking, along with Real Estate Partner Samir Nathwani, Associate Hannah Eastaff, and Planning Associate Tim Brown. On the corporate side, the transaction was led by Alex Kay at Herbert Smith Freehills, with Norton Rose Fulbright representing DIAFA.

Trowers & Hamlins is celebrated for its diverse specialisations, combining sector leadership in the UK and the Middle East. The firm’s reputation as experts in the real estate sector, complemented by practices in commercial law, social housing, and finance, enables it to provide comprehensive and strategic legal advice. With over 170 partners and more than 1,000 staff distributed across 11 global offices, Trowers & Hamlins remains well-positioned to assist clients in navigating complex high-profile transactions and fostering growth in evolving markets.