One of Dublin's most successful restaurants, Brownes Brasserie and Townhouse, has been sold to the Spanish boutique hotel company, the Stein Group.

Brownes, which is based on St Stephen's Green, is owned by Mr Barry Canny. Under the terms of the deal, he will retain a small shareholding in Brownes and will join the board of the Stein Group.

Speaking to The Irish Times, Mr Canny, would not disclose the purchase price saying it was a multi-million euro deal. Brownes reported a turnover of more than €3 million last year.

Mr Canny said the takeover was good for the restaurant and hotel and for Dublin. "This is good for Brownes. The Stein Group has a huge marketing network. It's a great association," he said.

The Stein Group owns luxury hotels in Mallorca, London, Amsterdam and Barcelona, and is preparing to operate a Mediterranean haute cuisine chain of restaurants across Europe.

The group, which is based in Spain, was established by Mr David Stein, and has plans to acquire up to 20 properties across Europe over the coming years. As a director, Mr Canny said he will have an input into that expansion.

He is also independently preparing to establish a Spanish-type wine bar chain, the first of which will open close to Brownes in Dublin in September.

The wine bars will trade as Peploes Bistro and Mr Canny expects to expand into London, Manchester and Bristol from next year.

He said the wine bar will be pitched at the "value-end" of the market aimed at giving customers "fast access" to food and wine.

Mr Canny took over the St Stephen's Green building and established Brownes in 1997. It was extensively restored to include the Parisien-style restaurant and the 12 bedroom hotel.

Other Stein Group hotels include the Gran Hotel Son Net in Mallorca, Durley House in London, Blakes Hotel in Amsterdam and the Gran Hotel La Florida in Barcelona.

It has also become involved in developing residential housing in Mallorca.

It is currently developing 35 individually-styled homes which will range in price from €330,000 to €435,000 which adjoin the Gran Hotel Son Net hotel.