BALTIMORE Papa Bello Enterprises Inc., operator or franchisor to about 20 Papa Bello Pizza restaurants, said Tuesday it has signed a letter of intent to acquire Pastore’s of Rosedale Inc., a Baltimore-based restaurant, deli and bakery company with two units.
Terms of the deal, which is expected to close by Nov. 30, were not disclosed. Papa Bello officials said that Pastore’s executives will assist in the design and rollout of a new franchise concept called Pastore’s Italian Bistro & Pizzeria.
According to Jim Price, chief executive of Papa Bello, the company intends to open its first Pastore’s unit within the next 60 days in the Baltimore area, where the original two Pastore’s restaurants are located. The new location will serve as a prototype for future franchise units as well as a training facility for new franchisees, the company said.
The acquisition is the second in as many weeks for Papa Bello. The company announced adeal to purchase Kebab Café, a quick-serve concept specializing in Middle Eastern food, on Oct. 8. Papa Bello officials said that the company would open 10 corporate Kebab Café locations in 2010, and create a new franchising program for the chain. It also plans to develop stores for the onsite foodservice market. That acquisition is expected to close by Oct. 31.
Contact Elissa Elan at [email protected].
