Investment firm Mohari Hospitality has announced plans to acquire Tao Group Hospitality. The transaction, which values Tao Group at $550 million, is subject to close in May 2023, further boosting Moharis’ robust portfolio of assets in the luxury lifestyle and hospitality sectors.
Mohari will purchase Madison Square Garden (MSG) Entertainment’s majority interest in Tao as well as the stakes of additional third-party investors. Terms of the deal will also see Tao Group enter into a multi-year agreement with MSG Entertainment for ongoing consulting, marketing, and support services.
“Tao Group has grown from an innovator in nightlife to a leader in premium lifestyle and hospitality. Its global footprint of more than 80 branded locations in over 20 markets and best-in-class management infrastructure speaks to the group’s tremendous potential,” says Mohari managing partner J. Allen Smith. “We look forward to working with Noah Tepperberg, Jason Strauss, and the rest of the dynamic management team to continue growing Tao Group’s business.”
“Over the last 20 years, we have been laser focused on building premium guest experiences and a company with a global influence in all areas of hospitality, entertainment, and pop culture,” adds Tao Group co-CEO Noah Tepperberg. “Mohari’s shared vision, coupled with the strength of its portfolio and leadership, make it an ideal partner as we look at the next chapter for Tao Group. We are excited to build this partnership to scale our companies together.”
Tao Group’s widely recognized venues include TAO, Hakkasan, OMNIA, Marquee, LAVO, Beauty & Essex, Wet Republic, Cathédrale, Little Sister, Sake No Hana, and more.