Danu Partners – Owners of Boston-Based Smith & Wollensky Restaurant Group Acquire The Strega Group – Introduces PPX Hospitality Brands

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Danu Partners – Owners of Boston-Based Smith & Wollensky Restaurant Group Acquire The Strega Group – Introduces PPX Hospitality Brands

PPX Hospitality Brands Will Operate Both Restaurant Groups Out of Medford, MA Executive Offices

 

BOSTON- (Jan. 29, 2020)- Danu Partners, the Irish investment firm that owns Boston-based Smith & Wollensky Restaurant Group, Inc., is launching a new hospitality group with a strong Boston presence as they continue to invest in the city.  PPX Hospitality Brands will manage two restaurant groups headquartered in metro Boston, the aforementioned Smith & Wollensky, and The Strega Group, a collection of Italian chophouses recently acquired from the Varano Group.

 

“Following the successful acquisition of the Smith & Wollensky Restaurant Group in 2016, the acquisition of The Strega Group is an attractive opportunity to add highly complementary Boston-based operating businesses to our hospitality portfolio,” said Danu Partners’ Leonard Ryan. “We believe in the long-term potential of this market and look forward to investing in these restaurants and the talented teams that operate them.”

PPX Hospitality Brands will be led by Michael Feighery, CEO & President of Smith & Wollensky Restaurant Group, who has worked with the international steakhouse brand for 35 years now.  In his new role as CEO of PPX Hospitality Brands, Feighery will oversee the entirety of PPX Hospitality Brands, while remaining in his role with Smith & Wollensky.

 

“Through the creation of PPX Hospitality Brands and with Smith & Wollensky’s commitment to genuine hospitality and quality, we will bring additional support systems, growth strategy and a team of resources to drive the Strega brand to new heights,” said Feighery. “We are committed to investing in The Strega Group’s team members, brand awareness, facilities and the customer experience throughout greater Boston.”

 

As part of the acquisition, Danu, through their newly formed subsidiary PPX Hospitality Brands, will own and operate the following Strega concepts:  Strega Waterfront, STRIP by Strega and Strega Prime, as well as several cafés and a catering business, all of which operate in the Greater Boston Area. The Varano Group will continue to operate a collection of Italian restaurants in Boston’s North End, including Nico, Rina’s and Strega North End.  The Varano Group will also continue its association with Fratelli, the Italian fine dining restaurant at the Encore Boston Harbor Resort.

The Strega Group’s unique appeal, brand strength and character will be preserved, while benefiting from being part of a larger hospitality group with an unwavering commitment to excellence.

 

“The Strega brand was built by my passion and determination to add to Boston’s outstanding culinary scene over the past 17 years and to have this opportunity to pass on the Strega experience to a company like Danu Partners is an incredible opportunity,”  said Nick Varano, founder of The Varano Group. “This will be a new day for The Varano Group and look forward to the continued success of everyone involved.”

Media Contacts

PPX Hospitality Brands/Smith & Wollensky Restaurant Group/The Strega Group

Kim Giguere-Lapine

Chief Marketing Officer

klapine@swrg.com

 

Allied Global Marketing

Ken Langdon or Rosalind Congleton

klangdon@alliedglobalmarketing.com / rcongleton@alliedglobalmarketing.com

 

About Danu Partners

Danu Partners is a privately owned, Dublin, Ireland based investment holding company, which specializes in investments in the hospitality sector. See www.danupartners.com for more information.

 

About PPX Hospitality Brands

PPX Hospitality Brands (“PPX”) is the newly formed holding company for the Smith & Wollensky Restaurant Group and The Strega Group.  PPX is headquartered in Medford, MA and is owned by Dublin- based Danu Partners. See www.ppxhospitalitybrands.com for more information.

About The Strega Group

The Strega Group is a collection of upscale, high energy Italian chophouses and cafes in the Boston Area.  The Group consists of: Strega Waterfront at One Fan Pier in Boston’s Seaport District, which opened in 2010 and is one of the top dining destinations in the Seaport area; STRIP by Strega at the Boston Park Plaza Hotel, which opened in 2015 and is a favorite Back Bay dining destination; Strega Prime at TradeCenter 128 in Woburn, which opened in 2013 and has been one of the most successful North Shore dining locations since then; and Caffe Strega, a contemporary Italian coffee bar concept with five Boston locations and an associated catering business, servicing some of Boston’s leading corporate and educational establishments. See www.thestregagroup.com for more information.

 

About the Smith & Wollensky Restaurant Group, Inc.

Since its establishment in 1977 as America’s classic steakhouse, Smith & Wollensky has been committed to delivering unparalleled hospitality and the best USDA Prime steaks, dry-aged for tenderness and flavor and hand cut on site daily. Smith & Wollensky Restaurant Group is headquartered in Boston, Mass., and owns and operates six iconic Smith & Wollensky locations in the US: the newly opened Las Vegas location at the Grand Canal Shoppes at The Venetian Resort Las Vegas; Chicago; Columbus, Ohio; Miami Beach; Boston and a suburban Wellesley, MA location. The restaurant group, widely known as “America’s Steakhouse,” opened their first international location in London in 2015 and debuted a new international location in Taipei, Taiwan in late 2018. The acclaimed wine list, rich ambiance and exceptional service are designed to provide guests with a truly memorable steakhouse experience. To learn more about the Smith & Wollensky Restaurant Group, visit www.smithandwollensky.com.