Flavio Briatore sells Twiga to LMDV Capital
LMDV Capital has signed an agreement to acquire the Twiga brand and 4 venues from the Majestas group © Twiga Monte-Carlo
LMDV Capital’s acquisition of Twiga is expected to conclude in the first quarter of 2025.
According to Corriere della Sera and Il Mattino, Leonardo Maria Del Vecchio, head of the LMDV Capital group, has announced the purchase of Twiga, run by entrepreneur and Monegasque resident Flavio Briatore.
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The acquisition, which will be completed in early 2025, includes four prestigious venues owned by Flavio Briatore’s Majestas group: Twiga Forte dei Marmi, Twiga Monte Carlo, Twiga Baia Beniamin and the Billionaire restaurant in Porto Cervo, which will become a Twiga next year.
Triple Sea Food, a subsidiary of LMDV Capital, already manages renowned establishments such as Vesta Milano and Casa Fiori Chiari. With the addition of the Twiga establishments, the group will employ over 600 staff and is aiming for turnover of €50 million by the end of 2024.
The group aims to become a major player in Italy’s luxury hotel and restaurant sector. As Leonardo Maria Del Vecchio explained in a press release: “This acquisition confirms our commitment to the development of the Italian hotel sector, a sector that we believe is fundamental to the country’s future.”
Flavio Briatore, handing over the reins to focus on F1
Flavio Briatore, who founded Twiga in 2000, has decided to sell his brand to concentrate more on his Formula 1 projects: “My renewed commitment to Formula 1 requires my full attention and a lot of time, which makes it necessary to be less involved in the Group’s operations. I am convinced that Triple Sea Food will be able to continue to grow Twiga while respecting the brand’s legacy. I wish Leonardo Maria Del Vecchio and his team the best of luck,” he said in a statement for Montenapo Daily.
Majestas, the group headed up by Flavio Briatore, will still continue to manage the Billionaire and Crazy Pizza brands, pursuing its strong international ambitions.
LMDV Capital is planning major changes, with a Vesta restaurant coming to Monaco and prestigious new premises in Porto Cervo.