PHILADELPHIA – Celebrity Philadelphia chef Marc Vetri is selling his restaurant group to retailer Urban Outfitters, Inc.
Philly.com reports (http://bit.ly/1kAl7Ia ) the deal should be completed by the end of the year. No terms were released.
The Vetri Family deal includes restaurants Osteria, Amis, Alla Spina, Lo Spiedo and Pizzeria Vetri, which also has a location in Austin, Texas, and two planned in Washington, D.C. The group’s flagship Italian restaurant Vetri isn’t included in the sale.
Vetri and partner Jeff Benjamin say nothing will change at the restaurants.
Urban Outfitters Inc., known as URBN, has as stable of clothing and home brands including Anthropologie, Terrain and Free People.
URBN chief development officer Dave Ziel says it’s a natural jump for the company, also based in Philadelphia. It has been integrating restaurants into its stores for several years, calling them” lifestyle centres.”
Information from: The Philadelphia Inquirer, http://www.inquirer.com