In a significant development for the global culinary scene, a Canadian holding company has acquired a portfolio of Britain's most celebrated Indian restaurants, including the historic, Michelin-starred Veeraswamy, which is currently embroiled in a high-stakes legal battle over its prime London location.
A Landmark Acquisition of Culinary Icons
Fairfax Financial Holdings Limited, a Toronto-based conglomerate, has purchased MW Eat Ltd through certain affiliates. This acquisition brings under its wing a prestigious group of dining establishments that have defined Indian fine dining in the United Kingdom for decades. The portfolio includes the legendary Veeraswamy on Regent Street, the fine-dining pioneer Chutney Mary, the grill-centric Amaya, and the popular street-food chain Masala Zone.
MW Eat was originally founded by restaurateurs Namita Panjabi and Ranjit Mathrani with the launch of Chutney Mary back in 1990. They were later joined by Camellia Panjabi, a former main board member of Taj Hotels, in 2001. In a move that ensures continuity, the founding trio has confirmed they will continue to work with Fairfax to facilitate a seamless handover and support the group's ambitious expansion.
Expansion Plans and a Pending Legal Challenge
The new ownership has bold plans for the future. MW Eat released a statement indicating that Fairfax plans to make significant investments in the restaurant group. The goal is to pursue international expansion that stays true to the brands' core values and to explore new restaurant formats. This global push is expected to be bolstered by Fairfax's extensive experience and existing investments within the Indian economy.
However, one iconic property faces an uncertain future. Veeraswamy, the UK's oldest Indian restaurant, is fighting for its survival at its historic home. The restaurant's building, Victory House, is owned by The Crown Estate, the property portfolio of King Charles. The Estate refused to renew Veeraswamy's lease after it expired in June of last year, citing the need for a complete refurbishment of the building.
Veeraswamy has been a fixture at its Regent Street address since 1926, serving a clientele that has included Indian Prime Ministers Jawaharlal Nehru and Indira Gandhi, Hollywood legend Charlie Chaplin, and numerous Indian maharajahs. In response to the eviction threat, MW Eat Chairman Ranjit Mathrani has taken The Crown Estate to court. The restaurant has been granted permission to remain in the building pending a court hearing expected in 2026—coinciding with its 100th anniversary.
Leadership Commitment Amid Ownership Change
Despite the change in ownership, the founding directors remain deeply committed to the legacy of their establishments. Mathrani assured that the campaign to save Veeraswamy's current location will continue with undiminished commitment. He clarified that he, along with Namita and Camellia Panjabi, will retain responsibility for all matters related to the legal dispute with The Crown Estate, ensuring their authority and position on the issue remains unchanged.
Prem Watsa, Chairman and CEO of Fairfax, expressed optimism about the long-term potential of MW Eat, noting the company's familiarity with the hospitality sector through its subsidiary, Recipe Restaurant Group. This acquisition marks a new chapter for these iconic restaurants, blending their rich heritage with fresh capital and a vision for global growth.
