Vetri Family Restaurant Group to be Acquired by Urban Outfitters
Vetri Family, a successful Philadelphia based restaurant group, announced it has entered into an agreement to be acquired by Urban Outfitters Inc., a leading lifestyle specialty retail company. This acquisition will include Amis, Osteria, all new and existing Pizzeria Vetri locations, Alla Spina, and Lo Spiedo. Under this agreement, daily operations at each restaurant will remain under the guidance of partners Marc Vetri and Jeff Benjamin while their eponymous restaurant, Vetri, will remain under the sole ownership of the partners.
“It’s a perfect match,” says Vetri, partner/chef. “URBN and the Vetri Family share the same singular goal—we pride ourselves on bringing the best possible experience to our customers and community. Through this partnership, and the experience URBN has in scaling growth opportunities, the Vetri Family will be able to grow its business with the support of a great partner with a proven infrastructure. And we will now be able to focus on what we do best—run restaurants that make people happy.”
“Having known Marc for almost a decade and partnered with him through his charitable foundation, we are honored to have him, Jeff and the Vetri Family join the URBN team,” says Richard A. Hayne, CEO of Urban Outfitters, Inc. “Spending on casual dining is expanding rapidly, and thus, we believe there is tremendous opportunity to expand the Pizzeria Vetri concept.”
Following the acquisition, Marc and Jeff will join URBN and manage URBN’s food and beverage operations. In this role, they will continue to run and expand the Vetri Family restaurants acquired by URBN, as well as URBN’s other food service operations, which includes locations at the Navy Yard, the two Terrain Cafes and Herald Square Café.