Gennaro Sbarro to buy stake in Mama Sbarro brand

 
April 2, 2003

MELVILLE, N.Y. -- Gennaro Sbarro, family member of Sbarro pizza fame, will likely buy a 49 percent share in the company's family-dining brand, Mama Sbarro.

According to Restaurant Business, the move was reported in a regulatory filing.

Gennaro Sbarro, the document said, will leave his post as president of Sbarro's casual-dining division, upon completion of the transaction, when he is expected to pay $1.3 million for the stake in eight restaurant sites.

Sbarro began developing Mama Sbarro in 2001, but the concept never took off. The company sold two Mama Sbarro locations in 2002 and two more in February. Sbarro doesn't plan to open any new Mama Sbarro units this year.

The challenging economy continues to hurt the company's flagship brand as same-store sales fell 4.8 percent in 2002.


Topics: Operations Management , Service


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