Danny Meyer, whose Union Square Hospitality Group runs such legendary restaurants as Union Square Café and Gramercy Tavern, is raising $250 million to buy a company with a similar culture as his own business, run by like-minded people.
The restaurant industry leader, whose 2006 book Setting the Table is used by many operators as a textbook for running their own businesses, has filed papers to form a special acquisition company, or SPAC, with the purpose of buying a company that would benefit from his expertise — and the expertise of others associated with the SPAC, including Clarence Otis, former CEO of Darden Restaurants which operates Olive Garden and other chains — and taking it public.
He’s not necessarily looking for a restaurant company. Meyer said his people-first “Enlightened Hospitality” approach could apply to many businesses, from health care to technology to retail, but if you think your restaurant fits the criteria, listed in this story in Nation’s Restaurant News, you might want to give him a shout.
Contact Bret Thorn at [email protected]
Follow him on Twitter: @foodwriterdiary