Richard Caring, the rag trade to restaurants entrepreneur, is expected to finalise the buyout of Annabel’s, the upmarket Mayfair nightclub, for an estimated £95 million today.

Mark Birley, the founder of the club and its owner since 1963, agreed a deal in principle last night after about a year of negotiations.

The deal is understood to include the whole of Mr Birley’s nightclub empire. It comprises George, the club popular with Marks & Spencer’s Stuart Rose, Mark’s Club, Harry’s Bar and the Bath & Racquets Club.

Annabel’s, where Jemima Goldsmith met Hugh Grant, is thought to have about 9,000 members, who pay more than £700 a year for a subscription.

Mr Birley’s £6 million art collection, on show in the clubs, as well as a multimillion-pound wine cellar, are thought to be included in the deal.

Mr Caring, whose net worth is reported to be about £500 million, is expected to merge the Birley clubs with Caprice Holdings, through which he owns top London restaurants The Ivy, Le Caprice, Scotts, J Sheekey and Daphne’s.

Annabel’s is thought to make profits of close to £1 million, up from £862,822 in the year to August 2005, the last accounts available. Those accounts show that the clubs achieved sales of £5.85 million in 2005.

Mr Caring, who bought Wentworth golf course for £130 million in 2004, has been at the centre of a number of deals in the past few weeks. He teamed up with an unnamed partner to buy the former US naval headquarters building in Grosvenor Square, Mayfair, for £250 million just a few days before selling Strada, his pizza chain, to Blackstone, the American private equity firm, for more than £140 million.

Earlier this week Mr Caring fuelled speculation that he is considering making an offer for Carluccio’s, the listed deli restaurant, after snapping up more than 5 per cent of its shares.

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