Consumer & Retail | Mergers & Acquisitions

Papa Razzi Acquired by Newport Harbor

  • TM Capital served as exclusive financial advisor to Back Bay Restaurant Group, Inc. in its sale of Papa Razzi, a leading upscale casual restaurant chain offering northern Italian cuisine, to Newport Harbor Corporation
  • Back Bay develops, owns and operates full-service restaurants across several unique dining concepts in the upscale casual-dining and fine dining segments
  • The Papa Razzi brand includes 10 Italian trattoria restaurants with locations in Massachusetts, Rhode Island, New York, New Jersey and Washington DC
  • Newport Harbor Corporation is an employee-owned (ESOP) hospitality company based in Newport, Rhode Island, that owns and operates Newport Restaurant Group, Castle Hill Inn and the Newport Yachting Center Marina & Special Events
  • TM Capital previously negotiated the sale of Back Bay’s brands Abe & Louie’s, Atlantic Fish, Charley’s, Coach Grill and Joe’s American Bar & Grill to Tavistock Restaurants, LLC

Client Testimonial

“TM Capital’s dedication, commitment and knowledge of the restaurant industry were instrumental in achieving the best possible outcome. Despite very challenging market conditions, TM Capital orchestrated the successful sale of our restaurants to two separate strategic parties focused on the long term growth of these iconic restaurant brands.””
Charles F. Sarkis, Founder and CEO, Back Bay Restaurant Group, Inc.