Charles Sarkis’s Back Bay Restaurant Group has been sold to California-based Tavistock Restaurants. The deal includes 33 restaurants and some of the best-known local names, including Papa Razzi, Abe & Louie’s, Joe’s American Bar & Grill, Atlantic Fish, Charley’s and Coach Grill. An exact figure wasn’t given by a Back Bay spokeswoman quoted in the Boston Globe article, but she did say it was “roughly” worth $50 million. Interestingly, Tavistock has long had its eye on Jimmy’s Harborside where it’s wanted to place a high-end concept called ZED451. Papa Razzi, the report mentions, may be sold off to another company. Of all Back Bay’s (the company) restaurants, we’d sorely miss Papa Razzi if that were to morph into something else.
BostonREB Ford Realty > Back Bay Restaurant Group sells to California company in $50 million deal