NEW YORK LeRoy Adventures Inc., the owner and operator of Tavern on the Green, said it plans to open branches of the high-grossing Manhattan restaurant across the country.
The company has retained the New York-based firm of Carl Marks Advisory Group LLC to serve as strategic and financial adviser for the expansion project. CMAG, among other things, will help the company identify capital-raising opportunities to fund expansion of the 31-year-old restaurant.
Tavern on the Green was opened by the late Warner LeRoy in 1976 and is said to generate revenue well in excess of $30 million annually, a large percentage of which is derived from private party business.
Michael Desiderio, chief operating officer of Tavern on the Green, said LeRoy Adventures “reached a point where we feel the restaurant is well-positioned to grow to other major markets.”
The company said it expects to announce its first new market soon.