Related’s Steve Ross buys into Momofuku

He's bought a minority stake in David Chang's empire

TRD New York /
Dec.December 13, 2016 09:40 AM

Someone’s in the kitchen with David Chang. It’s Stephen Ross, and he’s brought money. Lots of it.

The Related Companies TRData LogoTINY chairman and Matt Higgins, through their investment vehicle RSE Ventures, have bought into Momofuko Holdings, the New York Post reported. The size of the minority stake is not clear, but Chang will retain control of Momofuko.

“The end goal was always to find a partner who would help support our businesses and allow us to continue to grow, and we think that is Steve and the RSE team,” Chang told the Post. “It’s something we’re very excited about.”

In New York, his restaurants include Momofuku Ko, Noodle Bar and a planned location in the South Street Seaport.

RSE, which isn’t part of Related, has also invested in Vayner Media and a New York-based drone-racing league.

“David is one of our most important young chefs and is truly shaping the future of food and the way we will eat for generations to come,” Ross told the Post. “He has built a strong brand. Through RSE, we will help strategically grown the company.” [NYP]Kathryn Brenzel 


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways
Photo illustration of Mayor Carlos Gimenez (Getty, iStock)

Restaurants, gyms to close again in Miami-Dade

Restaurants, gyms to close again in Miami-Dade
Related chairman Stephen Ross and Related Companies Portfolio CEO Richard O’Toole withBronx Terminal Market and Time Warner Center (Getty, Google Maps, Wikipedia)

Related lays out $200M debt settlement plan for Tel Aviv bondholders

Related lays out $200M debt settlement plan for Tel Aviv bondholders
Scott Sandelin, Ben Potts, Michelle Bernstein, Felix Bendersky and Aaron Butler (Beaker & Gray, Twitter, F&B, Linkedin)

Restaurants, bars in a “scary situation” as restrictions ramp up

Restaurants, bars in a “scary situation” as restrictions ramp up
LA County ordered to shut indoor dining for 3 weeks as Covid cases climb

LA County ordered to shut indoor dining for 3 weeks as Covid cases climb

LA County ordered to shut indoor dining for 3 weeks as Covid cases climb
Restaurants are struggling to get by

Some 2.2 million of the world’s restaurants could close

Some 2.2 million of the world’s restaurants could close
Fuomo, near the corner of West 108th Street and Broadway

Hey, buddy, you using that sidewalk?

Hey, buddy, you using that sidewalk?
Every day that the city is shut down, is another day of bills piling up for tenants. (Illustration by Paul Dilakian)

Unpaid bills force NYC restaurateurs and landlords to come to the table

Unpaid bills force NYC restaurateurs and landlords to come to the table
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...