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There goes the neighbourhood.
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| jester |
| quote: | Schwartz's, the legendary Montreal restaurant famous for its smoked meat, was sold at the beginning of January for around $10 million to a group of investors that may include none other than René Angélil, husband and manager of superstar Céline Dion, according to sources close to the deal.
Le Huffington Post Quebec has learned that the transaction took place around Jan. 7, after which the now-former owner, businessman Hy Diamond, filed a request for dissolution of his business with the Registre des entreprises du Québec - the province's business registry. The sale of the uber-popular deli was motivated by a desire simply to move on, sources told HuffPost Quebec.
Several investors have shown interest in acquiring Schwartz's, but few were prepared to fork over the hefty sum, according to another source who spoke to HuffPost Quebec. Other sources say the restaurant is now the property of a group of investors, with two prominent names apparently in the mix: Angélil and Paul Sara (Angélil's cousin). The two previously ventured into the restaurant business in the 1990s with the Nickels franchise.
Loyal Employees
Montreal media has been abuzz with rumours of the potential sale, which started earlier this week when English paper The Gazette reported rumours of the sale. Angélil's connection to the sale was revealed early Sunday morning by Le Journal de Montréal.
But the deli's employees aren't saying much on the record about the business' change-of-hands, and were advised not to speak about the sale. "We know there has been a sale, but have been asked not to comment on the matter," Schwartz's day manager told HuffPost Quebec, visibly uncomfortable with the question.
Other servers seemed indifferent about the names of the future owners. "Our customers are our only priority, much more so than knowing who the owner is," one said with a smile.
Schwartz's has enjoyed phenomenal success since it was opened in 1928 by Reuben Schwartz. Locals, tourists and celebrities alike -- Angélil is a well-known fan, and his and Dion's picture is on the deli's wall of fame -- flock daily to the Montreal institution on St. Laurent Boulevard for the famous smoked meats, fries, pickles and more. The long lineups are almost as legendary as the sandwiches at the sole location.
As such, it wouldn't be surprising if the new owners were interested in expanding the Schwartz's brand beyond the Main according to Journal de Montréal's food writer, Thierry Daraize, who said in the report that tourists would love to be able to get their Schwartz's fix elsewhere.
"The brand has huge potential for expansion," he said. "As long as they can preserve their famous recipe."
Schwartz's popularity has thus far spawned a line of merchandise and spices, a book, documentary film, and even a musical.
If an expansion is on the horizon, Angélil could likely foot the bill if he is indeed a co-owner; His wife and sole talent protégé Dion had a reported net worth of about $250 million in 2007 and banked $19 million in 2010 - 11 on the strength of her Las Vegas show alone, according to Forbes. |
http://www.huffingtonpost.ca/2012/0...html?ref=canada
Not sure what to make of this :nervous: |
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| edmottawa |
I remember going to a Nickels a long time ago and tried to order something that they cannot mess up so I tried something safe like their poutine..... It was horrid.
I hope Angelil learned these lessons and does not screw up Schwartz. |
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| Swamper |
| I haven't been there in years... I usually go across the street :) |
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| Passskal |
It just means that they will try to franchise the concept and most likely export it outside of MTL.
It's not necessarily a bad idea.
Look at Adonis. Metro purchased shares in the concept and now the new store is going strong in Brossard at the 10/30.
The original Smoke Meat joint will stay the same, Angelil is a business man, he won't change the original joint and friendly neighborhood Deli concept. I'm sure though the people in Toronto, Vancouver, NYC would love to have access to a Schwartz's in their hometown.
Sure it takes away the magic of going to THE original spot, do the ridiculous line-up to feel special, but when you want to eat their product really all you crave is the meat right? So wouldn't you be happy to have access to it say in the West Island?
Was bound to happen on way to the other, the owner has health problems and was looking for partners for some time now. He would have been insane to refuse $10 million. |
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| Romchik22 |
| quote: | Originally posted by Passskal
It just means that they will try to franchise the concept and most likely export it outside of MTL.
It's not necessarily a bad idea.
Look at Adonis. Metro purchased shares in the concept and now the new store is going strong in Brossard at the 10/30.
The original Smoke Meat joint will stay the same, Angelil is a business man, he won't change the original joint and friendly neighborhood Deli concept. I'm sure though the people in Toronto, Vancouver, NYC would love to have access to a Schwartz's in their hometown.
Sure it takes away the magic of going to THE original spot, do the ridiculous line-up to feel special, but when you want to eat their product really all you crave is the meat right? So wouldn't you be happy to have access to it say in the West Island?
Was bound to happen on way to the other, the owner has health problems and was looking for partners for some time now. He would have been insane to refuse $10 million. |
Have you been to NYC? They have many more old-school-jewish-delis then we do. Wish we had as much as they do |
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| Passskal |
NYC is more about Pastrami.
They love our smoke meat. Google Noah Bermanoff, read about his success story opening up a smoke meat, bagel and poutine joint Mile-End style in NYC. 29-year old guy from MTL
Here: http://mobile.gothamist.com/2010/02...urant_owner.php |
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| Allied Nations |
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| edmottawa |
| Creating new Schwartz's deli's across Canada could work only if they man it with experienced workers who really know their stuff vs 15-17 year olds making minimum wage. They've got to recreate the same old school feel and that includes hiring the right staff. |
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| Romchik22 |
| Staff is pretty cracks @ shwartz |
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| FunKenLouis |
I could be wrong, but I'm pretty sure the new gouvernment computer system has a lot to do with the fact that they're selling
You'll see a lot of restaurants close because of that very soon
Can't hide much under the table etc |
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| princesultan |
| quote: | Originally posted by FunKenLouis
I could be wrong, but I'm pretty sure the new gouvernment computer system has a lot to do with the fact that they're selling
You'll see a lot of restaurants close because of that very soon
Can't hide much under the table etc |
good point. you're seeing this with a lot of restaurants in the new year actually. places closing and re-opening, changes in ownership, etc., in order to avoid audits since the numbers reported in the current year will be more "true" than they were in the past years, and thus inconsistent, triggering an audit. |
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| malek |
| I honestly don't see the difference between Schwartz smoked meet and other joints in Montreal. |
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