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No drastic changes for 97 Group's outlets: new owner

Restaurateur Sherman Tang has expanded his Epicurean Management empire by buying out one of Lan Kwai Fong's most-established restaurant owners, the 97 Group.

The deal was finalised on April 1, but Mr Tang said he had planned to keep the buyout low-key.

'We are doing this in a very quiet way,' he said, adding that he did not intend to make any 'drastic' changes to the 97 Group's popular restaurants and bars.

The deal means the Epicurean Group now owns Club 97, Post 97 and Dolce Vita in Lan Kwai Fong, as well as Einstein's in Quarry Bay.

The buyout brings Epicurean's stable of restaurants and bars throughout Hong Kong to 21, including eight in Lan Kwai Fong, and it plans to open a new  eatery in Lan Kwai Fong Tower next month.

Mr Tang said he had not acquired 97's fifth restaurant, Song in Hollywood Road, but Epicurean would take over the management of the Vietnamese restaurant.

Epicurean and the 97 Group have been in talks over the buyout for more than nine months.

There were no plans to dump the 97 brand or make any major changes to the acquired establishments, Mr Tang insisted.

'I bought 97 for several reasons - Epicurean owns several bars and restaurants in Lan Kwai Fong and we always had high respect for the 97 Group. When the opportunity arose, we took it,' he said.

'We are both in Lan Kwai Fong so we have synergy and economy of scale. Secondly, I am buying a brand. It is one of the original places in Lan Kwai Fong. They've been around for 25 years.'

The buyout deal makes Epicurean one of Lan Kwai Fong's major players along with  Allan Zeman's Lan Kwai Fong  Holdings, which owns nine restaurants and four bars in the area, and Igor's Group, which runs five eateries and pubs in the area.

Stanley Law, managing director of Lan Kwai Fong Holdings,  did not believe the shrinking number of major restaurant players in the area would affect customer choice or competitiveness.

'There are more than 80 restaurants and bars in Lan Kwai Fong, and most are owned by a few major companies. I think [this deal] will bring new and different people to Lan Kwai Fong and make the area even more attractive and interesting,' Mr Law said yesterday.



Shake-up in Lan Kwai Fong as eatery icon changes hands