FORT MYERS, Fla. Prime Restaurants, a start-up restaurant holding company with plans for aggressive expansion along the Eastern Seaboard, said it is acquiring two unnamed metropolitan New York restaurants with gross revenues of $2 million dollars each. Terms were not disclosed.
In recent few weeks, Prime has announced a new president and chief executive, Cris Galo, as well as negotiations to acquire a location in Fort Lauderdale, Fla. The Fort Lauderdale property under consideration seats 200 or more, if banquet rooms are included.
The company currently owns and operates the 10-year-old Sanibel-Palms Steakhouse here, which Prime said consistently generates operating revenue of between $1.8 million and $2.1 million annually.
In the announcement of his new role, Galo said the company plans to operate multiple units of a restaurant concept through conversions and new development.