UKs Oldest Indian Restaurant Acquired by Canadian Equity Firm for Global Expansion

MW Eat, the group behind some of the United Kingdom’s leading Indian restaurants, has changed hands in a significant cross-border takeover. Toronto-based Fairfax Financial Holdings has acquired the hospitality group, owner of renowned establishments such as Veeraswamy, Chutney Mary, Amaya, and Masala Zone. The deal comes at a pivotal time as Veeraswamy, the country’s oldest Indian restaurant, confronts a court dispute concerning its lease.

Established in 1926 on Regent Street in London, Veeraswamy has held Michelin recognition and served a distinguished clientele including Charlie Chaplin and Mahatma Gandhi. Despite its legacy, the restaurant faces an uncertain future due to the landlord’s decision not to renew its lease, intending to expand office reception facilities. Following the lease’s expiration at the end of June, Veeraswamy remains operational pending a scheduled hearing in the coming spring or early summer.

Fairfax Financial Holdings is a notable Canadian conglomerate, primarily active in insurance and property, but also possessing hospitality experience through its subsidiary Recipe Restaurant Group. This portfolio makes Recipe Canada’s largest multi-brand restaurant operator competing with market leaders across the sector.

The founders of MW Eat, Namita Panjabi and Ranjit Mathrani—joined by Camellia Panjabi in 2001—will continue to work alongside Fairfax to ensure a smooth transitional period. The group anticipates that Fairfax’s financial strength and international reach will enable MW Eat to accelerate its growth strategy. According to group director Camellia Panjabi, the acquisition introduces new investment and global vision, promising to enhance career opportunities for staff and the long-term prospects of the company’s brands.

Fairfax’s chairman and chief executive, Prem Watsa, commended the MW Eat team for building an impressive portfolio of iconic brands and signalled intentions to invest further for international growth. The collaboration promises to mark a new phase in MW Eat’s trajectory, with strategic plans poised to extend its restaurant concepts to a broader market.