Hakkasan Group Acquires Majority Stake In The h.wood Group

USA - English

• USA - English

LOS ANGELES, June 11, 2014 /PRNewswire/ -- Hakkasan Group, a global lifestyle company, today announced the acquisition of The h.wood Group, Los Angeles' leading nightlife and event production company. The deal positions Hakkasan Group as the majority stakeholder in all of The h.wood Group's entities including its event production company and premier nightlife venues Bootsy Bellows (Los Angeles and Aspen), Hooray Henry's, THE NICE GUY, Blind Dragon and SHOREbar.

By acquiring a majority stake in The h.wood Group, Hakkasan Group strengthens its position in the nightlife and events industry in the U.S., and will accelerate the growth of both companies by providing guests with a diverse portfolio of unmatched offerings. The h.wood Group will remain headquartered in Los Angeles as a subsidiary of Hakkasan Group, and will continue to be led by founders John Terzian and Brian Toll, who will report directly to Hakkasan Group President Nick McCabe.

"We are thrilled to welcome The h.wood Group, and specifically John and Brian, to the Hakkasan Group family. Their concepts will be remarkable additions to our portfolio and very complementary to our existing brands including Hakkasan Beverly Hills and Herringbone at The Mondrian. With the acquisition now complete, we look forward to providing capital resources to The h.wood Group as they pursue significant growth both in LA and beyond," said Nick McCabe, President of Hakkasan Group.

"Hakkasan Group is aligned with The h.wood Group's strategic priorities for expansion, and with this partnership we have the ability to leverage their global infrastructure to further expand our successful brands and operations across key markets," said John Terzian, co-founder of The h.wood Group.

Hakkasan Group is a global lifestyle company with establishments currently located across the United States, Europe, Middle East and Asia. Its namesake is taken from its Michelin-star restaurant that set the high-level standard for the group's collection of diverse brands. Its restaurant portfolio includes the flagship Hakkasan Restaurant with 12 locations worldwide, including Yauatcha, HKK, Sake no Hana, Herringbone, Searsucker, and Social House. Under the nightlife/daylife umbrella of brands are Hakkasan Nightclub, Wet Republic, Stingaree, HQ Nightclub and HQ Beach Club. In 2014, Hakkasan Group and MGM Resorts International announced the formation of a joint venture hotel management company named MGM Hakkasan Hospitality with a series of hotel and resort projects already under development including the Americas, Middle East and Asia.

John Terzian and Brian Toll are the founders and principals of The h.wood Group, a Los Angeles-based lifestyle company. Their portfolio includes SHOREbar in Santa Monica, Bootsy Bellows LA, Bootsy Bellows Aspen, Hooray Henry's, Blind Dragon and The NICE GUY in West Hollywood. 

SOURCE Hakkasan Group