CAMBRIDGE, MA — Legal Sea Foods, the restaurant chain that has been owned by the same family that founded it in Cambridge in 1968, could be sold as early as Monday, the Boston Globe reported in Sunday's editions.
Roger Berkowitz could sign off the deal to sell the restaurants to PPX Hospitality Group, owner of Smith & Wollensky steakhouses and three Boston-area Strega restaurants, as early as Monday. Terms were not disclosed, but the final sale price will be based on the future performance of the brand.
Berkowitz, the public face of Legal Seafood since taking over as chief executive from his father in 1992, told the newspaper the sale was directly related to the coronavirus pandemic that has decimated the restaurant industry. Prior to COVID-19 business shutdowns in March, Legal had 33 restaurants and 3,500 employees from New England to Florida and annual revenue of about $200 million.
Under the deal, Berkowitz can continue to sell seafood under the Legal brand name from his online store and through other retail outlets. Berkowitz's parents opened the first restaurant in 1968 next to a fish store that they had run in Cambridge since 1950. The brand's restaurants became a must-stop destination for Boston tourists while also earning the embrace of locals.
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December 21, 2020 at 12:35AM
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Legal Sea Foods Founding Family Selling Iconic MA Chain - Patch.com
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