US-based Urban Food Group has acquired Boca Bay Restaurant, Brasserie du Soleil and Osteria Cicchetti from Circa Restaurant Group, owned by restaurateur Ash Aziz.
Financial details of the transaction have not been disclosed.
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Following the sale, Aziz said efforts will now focus on the remaining restaurants, namely Pizzeria II Forno, Circa 1922, Junction 421, and a new concept intended for River Place in Wilmington.
US-based commercial real estate firm Cape Fear Commercial has brokered the deal for both the companies.
Cape Fear Commercial finance director Lindsey Hess was quoted by StarNews Online as saying: “Ash is a truly iconic figure in the Wilmington restaurant scene.
“He has spent his life creating spectacular eateries, down to the very last detail. We are thrilled that this transaction frees him up to focus on Circa’s other restaurants and do what he does best.”
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By GlobalDataUrban Food Group is owned by Kevin and Stacey Jennings and operates seven restaurants.
Aziz was quoted by WilmingtonBiz as saying: “Urban Food Group has expressed intentions of keeping the staff of each restaurant on and continuing to operate each establishment ‘as is’.
“In our line of work, it takes many key players to reach and maintain the type of success these restaurants have realised over the years. For this, I am truly grateful to all the employees. I wish them and the new owners continued success.”
