De Vere owner Alternative Hotel Group has acquired specialist contract caterer Searcy’s, in a multimillion-pound deal first revealed by Caterer earlier this month.
Founded in 1847, Searcy’s counts the capital’s Royal Opera House, the Gherkin and the National Portrait Gallery amongst its clients, as well as the Pump Room in Bath and Mercedes-Benz World in Weybridge, Surrey.
Although no official purchase price was disclosed, the deal is estimated to be worth in the region of £20 to £25m.
Duncan Ackery, AHG food and beverage director, said: “Searcy’s has grown into a very strong British brand. Its excellent commercial ethos and management style combine with its track record to make it a perfect complement to our hotel business.”
In an unconnected move, Searcy’s chief executive John Nugent announced his departure from the caterer earlier this month.
The Alternative Hotel Group was set up in 2005 as a joint venture with the bank of Scotland with a several Marylebone Warwick Balfour directors headed by Richard Balfour-Lynn.
By Chris Druce
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