Back Bay Restaurant Group, Inc. (Back Bay) has announced the sale of Papa Razzi, a leading upscale casual restaurant chain offering northern Italian cuisine, to Newport Harbor Corporation for an undisclosed consideration.
The Papa Razzi brand includes ten Italian trattoria restaurants with locations in Massachusetts, Rhode Island, New York, New Jersey and Washington DC.
Newport Harbor Corporation is an employee-owned (ESOP) hospitality company based in Newport, Rhode Island, that owns and operates Newport Restaurant Group, Castle Hill Inn and the Newport Yachting Center Marina & Special Events.
Back Bay develops, owns and operates full-service restaurants across several unique dining concepts in the upscale casual dining and fine dining segments.
One of Oaklins' teams in the USA served as the exclusive financial advisor to the seller in this transaction.
Jerome S. Romano
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