Mario Batali Gives Up All His Restaurants

[Yo_Mama_Been_Loggin]

Source: New York Times

The 20-year partnership between the celebrity chef Mario Batali and the Bastianich family of restaurateurs was formally dissolved on Wednesday, more than a year after several women accused Mr. Batali of sexual harassment and assault.

Mr. Batali “will no longer profit from the restaurants in any way, shape or form,” said Tanya Bastianich Manuali, who will head day-to-day operations at a new company, as yet unnamed, created to replace the Batali & Bastianich Hospitality Group.

The new company will operate the group’s remaining 16 restaurants under a new management and financial structure. Mrs. Bastianich Manuali and her brother, Joe Bastianich, have bought Mr. Batali’s shares in all the restaurants. They would not discuss the terms of the buyout.

Mr. Batali is also selling his shares in Eataly, the fast-growing global chain of luxury Italian supermarkets. “Eataly is in the process of acquiring Mr. Batali’s minority interest in Eataly USA,” said Chris Giglio, a spokesman for that company.



Read more: https://www.msn.com/en-us/foodanddrink/foodnews/mario-batali-gives-up-all-his-restaurants/ar-BBUrPQb?li=BBnb7Kz

[DrToast]

1. "Gives up"? He sold his shares

[marble falls]

3. I imagine the family argued that Batali diminished the value of his own stock. I bet there was ...

a significant discount.

Plus he left them with some degree of liability to civil suit. That has to have some value but not to Batali.

He took a serious hit to the value of his trademark.

[mitch96]

2. No soup for you Mario.............

m

[marble falls]

4. No soup from you Mario, neither - it would seem.