Ivy owner Caprice returns to profit ahead of £1.4B Abu Dhabi takeover
What's the deal? Caprice HoldingsDealroom has a profile for this one. Try Dealroom →, the parent of the IvyDealroom has a profile for this one. Try Dealroom → brasseries and members' club AnnabelDealroom has a profile for this one. Try Dealroom →'s, swung back to profit in the year to January 4, 2026, reporting a pre-tax profit of £8.2 million against a £26.1 million loss the year before. The turnaround came months before its £1.4 billion acquisition by Abu Dhabi investment vehicle DIAFADealroom has a profile for this one. Try Dealroom →.
The numbers: Sales slipped 4% year-on-year to £90.5 million, but adjusted EBITDA surged 45% to £15 million. The prior year's loss stemmed from an impairment.
What's behind it? Caprice blamed the sales dip on industry-wide "cost headwinds," including higher National Insurance contributions and minimum wage rises. Its performance, it said, "mirrored a lacklustre economic environment in the UK."
The portfolio: Beyond the Ivy, the group runs restaurants ScottDealroom has a profile for this one. Try Dealroom →'s, Sexy FishDealroom has a profile for this one. Try Dealroom →, and NoemaDealroom has a profile for this one. Try Dealroom →, plus members' clubs Annabel's, George, Harry's BarDealroom has a profile for this one. Try Dealroom →, and Mark's ClubDealroom has a profile for this one. Try Dealroom →.
Why now? DIAFA acquired the group in April, three months after the close of this financial year. That same month, Caprice secured a £325 million joint bank facility running to 2029, comprising a £275 million loan and a £50 million revolving credit facility.
What's next? The group said it "plans to increase market share, develop new concepts and uphold customer service levels in the next 12 months."
The signal: Gulf capital continues to hunt UK hospitality assets, and DIAFA's £1.4 billion bet lands as the sector wrestles with rising labour costs and soft consumer spending. Caprice's profit rebound suggests premium dining brands can still expand margins even as top-line growth stalls.
Read more: thecaterer.com
Image credit: tommerton2010
