The 20-year partnership between Mario Batali and the Bastianich family of restaurateurs was formally dissolved, reports The New York Times. A new company, as yet unnamed, was created to replace the Batali & Bastianich Hospitality Group, and Batali "will no longer profit from the restaurants in any way, shape, or form," says Tanya Bastianich Manuali, who will head the day-to-day operations.
Bastianich Manuali and her brother, Joe Bastianich, bought Batali's shares in all the restaurants, and the new company will operate the group's remaining 16 restaurants under a new management and financial structure. Batali is also selling his shares in Eataly.
Batali & Bastianich was not a holding company and had no ownership; it provided management services to all the restaurants in the group. Each restaurant was, and will remain, independently operated and financed by multiple parties. Full Story
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