RALEIGH N.C. LM Restaurants, parent of the eight-unit Carolina Ale House casual-dining chain, is acquiring five restaurants operating under a variety of names from Atlantic Quest Corp. Terms were not disclosed.
The restaurants to be acquired include The Oceanic, Henry's and Eddie Romanelli's, all operating in or near Atlantic’s home base of Wilmington, N.C. LM is in Raleigh. The deal, which is expected to close by March 14, covers the restaurants and their underlying real estate, according to the announcement.
“We have wanted to expand into the Wilmington market for some time now and have been looking for the right opportunity,” Lou Moshakos, president of privately-held LM Restaurants, said in a release.
Atlantic president Becky O’Daniell will stay on board to assist with the transition and to help in running the restaurants.
LM said it has no plans to change the daily management or staff of any of the restaurants.
The company operates several individual restaurants in addition to the Carolina Ale Houses. Moshakos indicated that the company has several Ale Houses under construction, including one at the Raleigh-Durham International Airport, one in Boynton Beach, Fla. and another in Columbia, S.C.. Last fall, he told Nation’s Restaurant News that he was looking to open other concepts, including a seafood and sushi restaurant in Raleigh. In 2007, the Triangle Business Journal recognized LM as one of the fastest-growing private companies in the Triangle area.