Heritage Restaurant Group Acquires Local Eateries Amid Concerns

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News Summary

Heritage Restaurant Group’s recent acquisitions of popular Rhode Island restaurants have sparked mixed reactions from the community. Notably, the acquisition of The Old Canteen has generated backlash over proposed changes after its closure. The group plans to open two new establishments in the space, while also expanding its portfolio with other local eateries. Despite community concerns, Heritage seeks to honor local culinary traditions while introducing new concepts, amidst challenges facing restaurant owners in the region.

Rhode Island Restaurant Group Faces Community Concerns After Acquisitions

Heritage Restaurant Group, a Newport-based company, has recently expanded its portfolio by acquiring several well-known local eateries, leading to a mixed response from the community. The most notable acquisition is The Old Canteen located on Federal Hill, which has recently attracted backlash due to proposed changes after the restaurant closed in January.

As part of Heritage’s strategy, the former Old Canteen space will soon house two new establishments: Wally’s Wieners and the Copper Club. The target opening date for these new venues is anticipated to be mid-to-late May, while plans for a second-floor opening are scheduled for 10 to 12 months later. The transition has raised concerns among community members about the fate of the long-standing Italian eatery’s legacy.

Commitment to Local Cuisine

Despite the pushback, the co-founder of Heritage Restaurant Group, Brad Head, has expressed a commitment to preserving local dining traditions. He emphasized that the new menu will offer a variety of options, including Italian-inspired dishes, to honor the heritage of The Old Canteen while introducing new culinary experiences.

Heritage Restaurant Group has also acquired Flo’s Clam Shack in Middletown and The Reef and Brick Alley Pub in Newport. The company is in the process of purchasing the Olneyville New York System as part of its aggressive expansion strategy which focuses on both restaurants and associated real estate to ensure stability and long-term success.

Challenges Faced by Restaurant Owners

Heritage’s growth highlights a common challenge in the restaurant industry: many owners are looking to retire without successors in place. This issue has fueled the growth of Heritage Restaurant Group, as they see an opportunity to take over and revitalize these establishments while helping owners exit the business successfully. The company also operates four food trucks and several other Rhode Island-based restaurants, further solidifying its presence in the region.

Investment in Community and Employees

Looking ahead, Heritage Restaurant Group is expected to invest over $100 million in future acquisitions and enhancements, with a focus on creating operational scale to provide year-round job stability in an industry that traditionally swings with the seasons. The areas of interest include the “Providence to Newport corridor,” particularly targeting waterfront properties.

Among the driving forces behind Heritage is Nicholas Schorsch, who has a personal connection to New England’s food culture. He has expressed a desire to balance successful business operations with community value, aiming to maintain the character of acquired businesses while also introducing innovative culinary ideas.

Future of Heritage and Community Relations

Despite existing community apprehensions, Schorsch remains steadfast in his mission to preserve Rhode Island’s distinctive dining culture while developing a sustainable business model. The restaurant group prides itself on being family-oriented, with aspirations for Schorsch’s children to take over the operations in the future.

As Heritage Restaurant Group continues to grow, it will need to navigate community concerns while delivering its vision of revitalizing local dining options and preserving beloved culinary traditions. The dialogue between the restaurant group and the local community will be essential in determining how these new establishments are received and integrated into Rhode Island’s rich food landscape.