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Monday, February 26, 2024

Mint Announces Winning Bid For Corbin & King

Minor International Public Company Limited (“MINT”) is pleased to announce that the Joint Administrators to Corbin & King Limited have selected MINT’s offer as the winning bid in the final round of bidding for the company.

MINT was already the existing majority shareholder in Corbin & King Limited – having held a 74% shareholding interest and a controlling Board position in the company since 2017. Acquiring 100% of the company’s assets and businesses is a reflection of MINT’s long-held strategy to invest in and grow, sustainably and responsibly, the company’s iconic restaurant portfolio in the UK and internationally.

Currently, Corbin & King operates some of London’s leading restaurants namely; The Wolseley, Brasserie Zédel, The Delaunay, The Delaunay Counter, Colbert, Fischer’s, Bellanger and Soutine, as well as Café Wolseley at luxury shopping destination Bicester Village in Oxford. MINT is committed to upholding the legacy of all restaurants under Corbin & King and will ensure the continuity of the business, as well as recapitalize the business to ensure a strong balance sheet and financial stability. Viable and sustainable commercial strategies remain in place, and growth plans on the horizon will be selectively executed with the leadership team, taking into consideration all stakeholders. MINT recognises Corbin & King’s extremely capable team as one of the key success factors and will continue to support every team member going forward. There is significant potential for Corbin & King restaurants, however,
MINT’s initial focus is to recommence the development of three new sites in the UK.

MINT is heavily invested both in the UK and globally as an owner, operator and JV partner of a portfolio of more than 3,300 restaurants. In addition to the collection of restaurants under the Corbin & King portfolio, its investments include the Patara brand, high-end Thai restaurants, Benihana, an entertaining Japanese steakhouse dining experience and other respected brands such as Zuma and Trader Vics in Thailand, and several Michelin-star restaurants across Europe, as well as NH and nhow hotels in London.

William E Heinecke, Chairman & Founder of Minor International, said: “We have the utmost respect for what the co-founders and the team have created and we are committed to preserving what they have achieved. We will protect and nurture the uniqueness of each restaurant and have no intention to franchise any of them. All restaurants are trading as usual and the teams continue to welcome valued customers. In terms of strategy going forward, stability and business continuity will be our utmost goals, while building on the existing strong foundations to drive growth.” He further added, “We are devoted to supporting the outstanding team of more than 700 people at Corbin & King, and we will work closely with its exceptional talent to bring this iconic portfolio of restaurants on this continued journey. Our principal objective remains unchanged: to ensure the sustained success of all the businesses and build an exciting future.”

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