Flavio Briatore’s Twiga brand officially bought out: “the start of a new era”
LMDV Capital has signed an agreement to acquire the Twiga brand and 4 Majestas group venues © Twiga Monte-Carlo
A new restaurant will be opening at the Twiga Monte-Carlo.
Three months ago, the Italian press announced the Twiga takeover by LMDV Capital. The acquisition of the brand launched by Flavio Briatore is now official.
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The deal includes four venues: Twiga Forte dei Marmi, Twiga Monte Carlo, Twiga Baia Beniamin and the Billionaire restaurant in Porto Cervo, which will be renamed Twiga next season.
According to Leonardo Maria Del Vecchio, Chairman of LMDV Capital, the deal represents an investment of €50 million. LMDV Capital is aiming to strengthen its luxury restaurant business in Italy and the Principality through its subsidiary Triple Sea Food.
The merger between Triple Sea Food and Twiga is giving birth to a new group: LMDV Hospitality, which is set to become a benchmark in the luxury hotel and restaurant sector.
Development projects are planned in Forte dei Marmi, Monte Carlo and Porto Cervo, including opening a new Vesta restaurant in Monaco.
“An icon of luxury entertainment”
Flavio Briatore, who is letting go of Twig to focus on his Formula 1 projects, said on his Instagram account: “Twiga has been an icon of luxury entertainment and one of our group’s most prestigious brands. Today, the time has come to entrust it to an entity capable of enhancing its future with an ambitious and structured vision,” said Flavio Briatore on his Instagram account.
“LMDV Hospitality has the potential to take Twiga to a new level, respecting its DNA while paving the way for new growth opportunities. I wish Leonardo Maria and the Triple Sea Food team every success for the future.” he added.
Marco Talarico, CEO of LMDV Capital, said in a statement to Il Corriere della Serra: “Having built a solid identity with Triple Sea Food, based on quality and innovation, we are now accelerating on our path as we take Twiga on board…”
“This transaction is not just an acquisition, but the start of a new era where dining, entertainment and lifestyle merge to create iconic destinations that set trends and attract an international audience…”
LMDV Capital will own over 80% of the new entity, while the Wertheimer family (which owns Chanel), current shareholders in Triple Sea Food, will reassess its position over the coming months.