Danu Partners, the Irish investment firm that owns Boston-based Smith & Wollensky Restaurant Group, has announced a new hospitality group called PPX Hospitality Brands.
The new group will retain a strong Boston presence with a focus on investment in the city.
PPX Hospitality Brands will manage two restaurant groups headquartered in metro Boston, the aforementioned Smith & Wollensky, and The Strega Group, a collection of Italian chophouses recently acquired from the Varano Group.
“Following the successful acquisition of the Smith & Wollensky Restaurant Group in 2016, the acquisition of The Strega Group is an attractive opportunity to add highly complementary Boston-based operating businesses to our hospitality portfolio,” said Danu Partners’ Leonard Ryan. “We believe in the long-term potential of this market and look forward to investing in these restaurants and the talented teams that operate them.”
PPX Hospitality Brands will be led by Michael Feighery, CEO & President of Smith & Wollensky Restaurant Group, who has worked with the international steakhouse brand for 35 years. In his new role Feighery will oversee the entirety of PPX Hospitality Brands, while remaining in his role with Smith & Wollensky.
“Through the creation of PPX Hospitality Brands and with Smith & Wollensky’s commitment to genuine hospitality and quality, we will bring additional support systems, growth strategy and a team of resources to drive the Strega brand to new heights,” said Feighery.