PHILADELPHIA, Pa. (July 31, 2024) – Ideation Hospitality announced today the sale of its acclaimed restaurants, Amada and Village Whiskey, to SPB Hospitality, a leading national operator and franchisor with a diverse portfolio of over 500 restaurants. This acquisition marks a significant step in expanding the reach of these beloved brands, conceived by renowned Chef Jose Garces.
Amada & Village Whiskey, Paving the Way for National Expansion
SPB Hospitality, recognized for its industry leadership and upscale dining concepts, sees the addition of Amada and Village Whiskey as a valuable asset. The acquisition includes Amada's three locations in Philadelphia, Radnor, and Atlantic City, along with Village Whiskey's exclusive Philadelphia location.
A Winning Combination of Culinary Excellence and Growth Potential
Josh Kern, CEO of SPB Hospitality, expressed his enthusiasm for the acquisition, highlighting Amada's "impressive" ambiance and "culturally rich cuisine." He emphasized the concept's growth potential, stating that Amada is "a restaurant concept that has the potential to grow exponentially." SPB Hospitality plans to open two to three new Amada restaurants annually, focusing on the Sun Belt region, where the warm climate complements the restaurant's iconic Spanish cuisine.
Chef Jose Garces, the creative force behind these restaurants, shared his excitement about the partnership with SPB Hospitality, stating, "I could not be more proud to work with SPB Hospitality to help grow the Amada brand in such a significant way." He envisions bringing the "incredible flavors and taste of Spain" to cities across the country.
A Strategic Move for Both Companies
The Ballard brothers, owners of Ballard Brands and Ideation Hospitality, expressed confidence in SPB Hospitality's ability to take these brands "to new heights." They cited the significant growth of PJ's Coffee brand as a reason for focusing their efforts elsewhere, making this the ideal time for the acquisition.
Scott Campanella, COO of Ideation Hospitality and incoming SVP at SPB Hospitality, emphasized the "excitement, stability, and proof of concept" these brands have demonstrated under his leadership. He is optimistic about the future of Amada and Village Whiskey under SPB Hospitality's guidance, expecting them to reach their full potential through "strategic, well-backed growth plans."
This acquisition is poised to be a win-win for both companies. SPB Hospitality gains two well-established and highly regarded restaurant brands with significant growth potential. At the same time, Ideation Hospitality can focus on other ventures, confident that their beloved concepts are in capable hands. With Chef Garces continuing his involvement in culinary and concept development, diners nationwide can anticipate exciting new culinary experiences from these expanding brands.
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