Minor Hotels takes £58m stake in The Wolseley and The Delaunay operator Corbin and King

The owner of some of London’s most iconic eateries has sold a £58m stake to a Thai hospitality group.

Corbin and King, named after its founding partnership Chris Corbin and Jeremy King, is behind restaurants including The Wolseley, The Delaunay, and Brasserie Zedel.

The majority stake in the company has now been snapped up by Thai company Minor Hotels.

The company, which has 157 hotels and is a subsidiary of Bangkok-listed Minor International, said it plans to expand the partnership and grow the portfolio of sites beyond the existing six restaurants and the Beaumont Hotel in Mayfair.

Read more: Financiers find Piccadilly a prime spot for people-watching

“Our strategic joint venture will build upon Minor Hotels’ history of operating signature restaurants within our hotels and in third-party locations,” explained Dillip Rajakarier, chief executive of Minor Hotels.

The eponymous Corbin and King will stay on as minority shareholders, with King remaining in place as chief executive. Separate documents filed today showed that a new company called MI Squared will be set up, with Minor holding a 74 per cent stake while Corbin and King retain 26 per cent.

The sale wraps up a process which was first opened several months ago, when previous backer Graphite Capital put its stake in Corbin and King up for sale.

Jeremy King said, “We took our time to find the right partner to take Corbin & King forward and I couldn’t be happier that we found Bill Heinecke and Dillip Rajakarier and their team at Minor, for whom my respect grows daily. I look forward eagerly to the opportunities this presents.”

Read more: This exclusive London eatery is officially the UK’s best restaurant