Tao Group Hospitality is now officially for sale.
Parent company Madison Square Garden Entertainment Corp. said Monday it is exploring a potential sale of its majority stake in the New York-based Tao Group Hospitality, a global restaurant and nightlife company that includes more than 70 restaurants.
Rumors about the possible sale have been circulating for weeks, and some reports indicated that restaurant collector Tilman Fertitta, president and CEO of Landry’s Inc., was a possible suitor for the Tao Group, which includes concepts like the Tao Asian Bistro, Hakkasan and Lavo Italian brands.
In a statement, the company said, “MSG Entertainment regularly evaluates ways to maximize shareholder value and believes that now is the appropriate time to explore a potential sale of its interest in Tao Group Hospitality.”
