Setanta Sports founders buy US restaurant chain Smith & Wollensky
Irish group takes control of all group’s non-New York businesses
Smith & Wollensky’s restaurant in Miami Beach, Florida.
Danu Partners, the investor backed by Setanta Sports founders Michael O’Rourke and Leonard Ryan, has bought US restaurant chain, Smith & Wollensky.
The Irish company said on Monday that will take control of seven of the chain’s eight steakhouses under the deal’s terms.
Smith &Wollensky’s New York outlet will remain in the hands of its founder Alan Stillman.
Danu is also acquiring worldwide rights to the Smith & Wollensky brand, outside New York, as part of the deal.
Last year Danu opened its only non-US outlet in London under a licence agreement with the group.
The Irish company said that it plans to invest heavily in the chain and open new restauraunts in the US and worldwide.
Mr O’Rourke and Mr Ryan joined forces with Mark O’Meara to found Danu in 2009 to buy Setanta Sports’ non-UK businesses.