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AccorHotels to buy half of SBE in $319M deal

Investment to fund expansion of Umami Burger and Katsuya parent

Bret Thorn, Senior Food Editor

June 29, 2018

2 Min Read
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SBE Entertainment Group, parent company of the Umami Burger chain and operator of several of José Andrés’ restaurants, among many others, has found a new investor to fuel its expansion.

AccorHotels and SBE have signed a letter of intent for Accor to acquire 50 percent of SBE. The hotel group said it would invest $319 million in SBE to buy the common equity and preferred units owned in part by Cain International, giving it a 50 percent stake. SBE founder and CEO Sam Nazarian will continue to own the remaining half of the company.

Accor said it would buy the common equity for $125 million and invest $194 million in a new preferred debt instrument to buy the preferred shares. The deal is expected to be completed July 31.

Cain International invested in SBE in 2016 to help fund its expansion.

Nazarian said the long-term investment by Accor “supports our collective ambition to be the best lifestyle hospitality company in the market,” and would help fuel expansion in the U.S., and abroad, particularly in Europe.

AccorHotels chairman and CEO Sébastien Bazin said the investment would allow the Paris-based hotel group to expand its footprint in the United States, particularly in “key U.S. cities such as Miami, Los Angeles or Las Vegas, and in other international destinations.”

He added: “‘The new luxury’ is all about exclusive experiences and incredible lifestyle concepts and SBE brands have the perfect know-how that will complete perfectly the AccorHotels portfolio.”

SBE’s Disruptive Restaurant Group includes José Andrés concepts The Bazaar, with locations in Beverly Hills, Calif.; Las Vegas; Miami and Miami Beach, Fla., as well as Tres in Beverly Hills. It also operates the Umami Burger casual-dining chain, with about 20 units, and Katsuya, Cleo, Leynia, Diez & Sez and Filia restaurants. Additionally, SBE has numerous hotel and luxury residential brands including SLS, Delano, Mondrian, Hyde and the Redbury Hotels. It said it plans to operate 25 hotels by the end of 2018 as well as 170 restaurants and entertainment venues.

Contact Bret Thorn at [email protected] 

Follow him on Twitter: @foodwriterdiary

About the Author

Bret Thorn

Senior Food Editor, Nation's Restaurant News

Senior Food & Beverage Editor

Bret Thorn is senior food & beverage editor for Nation’s Restaurant News and Restaurant Hospitality for Informa’s Restaurants and Food Group, with responsibility for spotting and reporting on food and beverage trends across the country for both publications as well as guiding overall F&B coverage. 

He is the host of a podcast, In the Kitchen with Bret Thorn, which features interviews with chefs, food & beverage authorities and other experts in foodservice operations.

From 2005 to 2008 he also wrote the Kitchen Dish column for The New York Sun, covering restaurant openings and chefs’ career moves in New York City.

He joined Nation’s Restaurant News in 1999 after spending about five years in Thailand, where he wrote articles about business, banking and finance as well as restaurant reviews and food columns for Manager magazine and Asia Times newspaper. He joined Restaurant Hospitality’s staff in 2016 while retaining his position at NRN. 

A magna cum laude graduate of Tufts University in Medford, Mass., with a bachelor’s degree in history, and a member of Phi Beta Kappa, Thorn also studied traditional French cooking at Le Cordon Bleu Ecole de Cuisine in Paris. He spent his junior year of college in China, studying Chinese language, history and culture for a semester each at Nanjing University and Beijing University. While in Beijing, he also worked for ABC News during the protests and ultimate crackdown in and around Tiananmen Square in 1989.

Thorn’s monthly column in Nation’s Restaurant News won the 2006 Jesse H. Neal National Business Journalism Award for best staff-written editorial or opinion column.

He served as president of the International Foodservice Editorial Council, or IFEC, in 2005.

Thorn wrote the entry on comfort food in the Oxford Encyclopedia of Food and Drink in America, 2nd edition, published in 2012. He also wrote a history of plated desserts for the Oxford Companion to Sugar and Sweets, published in 2015.

He was inducted into the Disciples d’Escoffier in 2014.

A Colorado native originally from Denver, Thorn lives in Brooklyn, N.Y.

Bret Thorn’s areas of expertise include food and beverage trends in restaurants, French cuisine, the cuisines of Asia in general and Thailand in particular, restaurant operations and service trends. 

Bret Thorn’s Experience: 

Nation’s Restaurant News, food & beverage editor, 1999-Present
New York Sun, columnist, 2005-2008 
Asia Times, sub editor, 1995-1997
Manager magazine, senior editor and restaurant critic, 1992-1997
ABC News, runner, May-July, 1989

Education:
Tufts University, BA in history, 1990
Peking University, studied Chinese language, spring, 1989
Nanjing University, studied Chinese language and culture, fall, 1988 
Le Cordon Bleu Ecole de Cuisine, Cértificat Elémentaire, 1986

Email: [email protected]

Social Media:
LinkedIn: https://www.linkedin.com/in/bret-thorn-468b663/
Facebook: https://www.facebook.com/bret.thorn.52
Twitter: @foodwriterdiary
Instagram: @foodwriterdiary

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