Neil Perry breaks away from Urban Purveyor Group
The partnership between chef-restaurateur Neil Perry and Urban Purveyor Group has come to an end, with Perry set to regain control of the signature fine-dining restaurants he established under his original Rockpool empire.
Rockpool Dining Group was formed three years ago after a merger between Perry's Rockpool Group and Urban Purveyor Group. But the group will now be split into two businesses.
Restaurant brands Rockpool Bar & Grill, Spice Temple and Rosetta will come under Perry’s control under the Rockpool Group banner, as well as R Bar which opened during the merger. But the future of his fast-food chain Burger Project is still uncertain.
Rockpool Dining Group's executive team will retain control of Saké Restaurant & Bar, The Cut and Bar Patrón, as well as casual venues Fratelli Fresh, El Camino Cantina, The Bavarian, Munich Brauhaus, Beerhaüs, WingHAÜS by Bavarian and The Argyle under new entity Pacific Concepts.
"The separation will enable both entities to fully focus on their own strategic and ambitious growth plans, unrestricted by the larger Group," said Rockpool Dining Group chairman Jonathon Pearce in a statement.
Following the $65 million merger in 2017, the group's portfolio expanded rapidly from 17 venues to more than 85 restaurants and bars in Australia and New Zealand, with a reported revenue of more than $400 million.
This expansion came despite the group’s then CEO Thomas Pash saying: "We don't want to grow too fast, or we're compromising quality”.
The separation is expected to be complete by April, with Rockpool Group and Pacific Concepts then operating as fully independent businesses.
Sheridan Randall, 3rd March 2020
