LACONIA, NH and ROCKLAND, MA, ISSUED FEBRUARY 18, 2020…ROI Corporation , a leading firm for the transfer of ownership of businesses, today announced the recent sale of the iconic Faro Italian Grille, an Italian fine-dining restaurant in Laconia, NH.
Gary Rayberg, listing broker, and Peter Spanos, the selling broker, both represented the owners of the restaurant, brothers Richard and Michael Ray.
Faro Italian Grille specialized in the “fast-casual” model of Italian dining to the area, and it was a popular host site for vendors of the annual Laconia Bike Week, a motorcycle rally held annually in June in Laconia. The rally originated with the Loudon Classic motorcycle race which traces its roots to 1923.
Terms of the sale were not disclosed; the transaction was completed earlier this month. The new owner of the restaurant is Robert (Rob) Csendes, who owns property nearby. He has said that he will open the restaurant for Bike Week and invite the bike week vendors to set up on his property as usual. Bike Week runs from June 13 to June 21 this year. He said that he is considering several options for the property following Bike week, which could include either renting it for use as a restaurant or potentially opening a wedding or event venue.
Richard Ray, one of the former owners of Faro’s, said “I really want to thank the customers of the restaurant, the employees and the bike week vendors for their support. It was a great run.”
He further said, “Working with Gary and Peter of ROI made the process of selling the restaurant much easier.”
Rayberg said, “It was a pleasure to work with Richard and Michael on this transaction. They have become an integral part of the Laconia business community and landscape, and we wish them all the best in their next venture.”
Spanos added, “We also want to thank Rob Csendes and wish the new owner the best of luck. It is a pleasure to help with the transition of such a local landmark.”
About ROI Corporation
ROI Corporation, DBA in NH as Business Brokerage and Valuation Services, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division. Their Marietta, Georgia, office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. They also have an office in Simsbury, Connecticut. For more information, please visit www.roimergers.com or call (781) 682-6209.