New York’s Tavern on the Green plans national expansion

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.