Thursday, January 30, 2020

Irish Investment Firm Danu Partners Purchases The Strega Group

An Irish investment firm that owns a Boston-based group of high-end steakhouses has purchased another local restaurant group, though not all of that group's dining spots are part of the deal.

According to an article in The Boston Globe, Danu Partners has acquired The Strega Group, with Strega Waterfront in the Seaport District, Strip by Strega in Park Plaza, Strega Prime in Woburn, and all five locations of Caffe Strega being part of the package as well as an affiliated catering business. The post says that Nick Varano and The Varano Group will continue to run the North End location of Strega along with the nearby Nico and Rina's, and Varano will also still be involved with Fratelli at the Encore Boston Harbor casino and hotel in Everett.

Danu Partners, which is the parent company of the Smith & Wollensky Restaurant Group, Inc., has introduced a new holding company called PPX Hospitality Brands that will be behind the investment firm's restaurant businesses in the United States along with its expansion plans in this country. (Two locations of Smith & Wollensky can be found in the local area--one on the Boston waterfront and another in Wellesley.)

by Marc Hurwitz (Also follow us on Twitter at @hiddenboston)

[A related post from our sister site (Boston's Hidden Restaurants): List of Restaurant Closings and Openings in the Boston Area]