NOHM Hospitality, the food and beverage arm of DIFC-based investment house Downtown Ventures, has acquired a controlling stake in Baoli, the Cannes restaurant and nightlife brand, the company said in a statement on Friday, October 16.
The statement did not disclose the size of the stake or the price paid.
The deal was signed in Paris on October 12. Brandon Joseph, senior vice president of strategy and business development at Downtown Ventures, led the negotiations and structuring, the company said.
NOHM secured a franchise license in 2022 to bring Baoli to J1 Beach in Dubai. Baoli Dubai opened in November 2024.
The acquisition turns the Dubai franchisee into the brand’s owner. Baoli opened its first venue in Cannes in 1999.
NOHM now plans to expand the brand internationally, with Saint-Tropez, Bodrum and Courchevel under consideration for the first openings, according to the statement.
“Dubai, however, has now become the new flagship, and we believe this concept has great potential for global expansion,” said Sanjeev Nanda, managing director of Downtown Ventures.
Christophe Caucino, founder of Baoli, said: “Together, we will take Baoli to new cities and new audiences without ever losing the soul that made Cannes and Miami fall in love with it.”
Downtown Ventures has businesses in hospitality, real estate, technology and pharmaceuticals. Its portfolio includes Taj Dubai, Billionaire Mansion and Toto’s in London, the company said.
