Neil Perry sells Rockpool group to UPG

As the ink dried Friday night on Urban Purveyor Group's acquisition of Neil Perry's Rockpool Group, confirmation of the worst kept secret in the hospitality industry turned to what's next for Australia's highest profile chef?

Perry shot down the theory it is a giant payday that'll see him ride into the sunset. "Now we're fully funded we'll open a Rockpool Bar & Grill together in London or Los Angeles. We're looking at putting a smaller Rockpool Bar & Grill and a Spice Temple into Brisbane. Building will start in two weeks at Grosvenor Place in Sydney where we'll open [Italian restaurant] Rosetta," Perry says.

Rockpool Group's 47 venues – which include the Rockpool Bar & Grill, Rosetta, Spice Temple and Burger Project brands – become stable mates with the Thomas Pash-led UPG, which already has a number of brands under its umbrella including Sake, Fratelli Fresh and The Bavarian.

Perry confirmed the deal will see his wealthy American business partner, David Doyle, bought out of the group. The relationship between Perry and Doyle is believed to have been strained for some time, Perry flirting with a deal a number of years ago that would've seen James Packer purchase Doyle's stake.

"Eleven Bridge [in Sydney] and the consultancies with Qantas and David Jones aren't included in the deal with UPG because they weren't part of what we had with David. Fine dining doesn't really make any money anyway, so I'm not sure those guys would've wanted it [the restaurant]," Perry says.

Perry refused to disclose the exact acquisition price. Market speculation has wildly punted at anywhere between $30 million and $100 million.

"I've really hit it off with [UPG CEO] Thomas. I'm going to help with their premium brands like Sake and Fratelli Fresh. There are opportunities in south-east Asia with Burger Project. We're looking at creating one of the great restaurant groups," Perry adds.