Global foodservice contractor Delaware North Companies has acquired a majority stake in multi-concept operator Patina Restaurant Group, creating a $3 billion brand.
Terms of the deal, which closed Friday but was announced in February, were not disclosed.
Buffalo, N.Y.-based Delaware North has taken a majority stake in the bicoastal Patina Restaurant Group, which is based in New York and Los Angeles. Majority ownership was held previously by Japan-based foodservice conglomerate Shidax Corp., which will continue to hold a minority interest in Patina Restaurant Group.
Matthew King, previously president of Delaware North Companies Travel Hospitality Services, will assume a new role as president of Delaware North Companies Landmark Holdings, with oversight over Patina Restaurant Group.
The company said King will work closely with Nick Valenti, Patina Restaurant Group’s chief executive, and the company’s founder and Joachim Splichal, who will remain in their current positions.
The result of a partnership between Valenti and Splichal, Patina Restaurant Group is known for its roughly 60 high-end and casual-dining restaurants, catering and foodservice operations in cultural and arts centers on both the West and East Coasts.
Delaware North, founded and owned by the Jacobs family, manages and provides food-and-beverage concessions, dining, entertainment and lodging at large venues, airports, national parks, casinos and other tourist spots across the U.S., Canada, the United Kingdom, Australia and New Zealand.
Together, Delaware North and Patina Restaurant Group are expected to generate revenue exceeding $3 billion in 2014, and the company will include nearly 60,000 employees.
Replacing King as president of Travel Hospitality Services is Kevin Kelly, who will report to King. The division includes more than 20 airport locations across North America. Kelly served previously as vice president, Shared Services, for Delaware North, and headed the Parks & Resorts division from 2005 to 2012.
Restaurants within Patina Restaurant Group’s portfolio include the namesake Patina Restaurant in Los Angeles’ Walt Disney Concert Hall and Lincoln Ristorante at New York’s Lincoln Center.
Other brands include Nick & Stef’s Steakhouse, Café Pinot at the Maguire Gardens, Catal and three other restaurants in Anaheim’s Downtown Disney, Leatherby’s Café Rouge at the Segerstrom Center for the Arts, and the Hollywood Bowl on the West Coast.
On the East Coast, venues include the Rockefeller Center Ice Rink, Rock Center Café, The Sea Grill, Brasserie, Café Centro, Naples 45, The Grand Tier Restaurant at the Metropolitan Opera and La Fonda Del Sol, as well as Tutto Italia Ristorante at the Epcot World Showcase in Orlando, Fla.
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