Sept. 22, 2011
Bella Petrella's Holdings Inc. has acquired Bobby V's Original Westshore Pizza LLC, which operates one 83-seat pizza and sandwich sports bar in Tampa, Fla.
The restaurant was founded by Robert Vasaturo, Jr. in 1994. Unaudited gross revenues of the restaurant's most recently ended 2010 fiscal year were approximately $1,518,917.
Bella Petrella's purchased Bobby V's Original Westshore Pizza LLC at a price of $1,110,000, paid with a promissory note Oct. 31, 2011 and secured by a pledge of the members' interests in the acquired company.
The maturity date of the note is subject to two extensions, the last being through Aug. 31, 2013, subject to issue of shares of our common stock, at the election of the holders.
"There is no other higher honor than being able to own a restaurant which has become such an icon in the Tampa market," said John V. Whitman Jr., Bella Petrella's CEO and chairman. "Bobby V's has built more than a pizza joint, they built an institution that has been enjoyed by two generations of families."
Bella Petrella's produced pasta and pizza sauces and salsas to retailers. Through its subsidiaries, it also franchises 37 pizza and sandwich sports bars in Florida and Ohio.
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