Delaware North to acquire high-end restaurant group - The Buffalo News

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Delaware North to acquire high-end restaurant group

Delaware North Cos. has an appetite for some fine dining.

The Buffalo-based food service and hospitality giant has agreed to buy a majority stake in the Patina Restaurant Group, which operates high-end restaurants and manages catering operations at prominent venues in New York City, Los Angeles, Las Vegas and Orlando, Fla.

Specifics of the deal, which was announced Saturday, were not disclosed. Wendy Watkins, a spokeswoman for Delaware North, said more details would be revealed once the deal is closed, which is expected to happen by the end of March.

“Patina Restaurant Group is one of the most respected restaurant companies in North America, with an unequaled group of world-class venues and restaurant locations,” said Jeremy Jacobs Jr., a principal with Delaware North, in a written statement.

Among the high-profile locations where Patina operates restaurants are Lincoln Center and the Rockefeller Center Ice Rink in New York City, the Walt Disney Concert Hall in Los Angeles and the Epcot World Showcase in Orlando.

Patina is now majority-owned by Shidax Corp., a publicly traded Japanese food service company. Once the deal is completed, Shidax will continue to own a minority interest in Patina, Delaware North said.

Patina’s leaders – Chief Executive Officer Nick Valenti and founder/chef Joachim Splichal – will remain in their current roles after the deal is complete, Delaware North said.

Privately held Delaware North says it has annual revenue exceeding $2.7 billion and 55,000 employees. The company said the Patina deal will push its revenues past $3 billion this year and bring total employment at the combined companies to nearly 60,000.


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