Bella Luna Bistro in Merced, CA has been in the same ownership for 25 years with Vincent D’Angelo at the helm.
Vinnie is a skilled chef by trade and had to quickly learn how to run the large 7,000 sq ft Dining room, Bar, Banquets and Kitchen operations, building his restaurant business to annual revenues of $2 Million. Keith Simpson of Restaurant Realty Co met Vinnie at the end of 2019 listing the restaurant and real estate for sale for the asking price of $1.6 million.
At that time as with most good restaurants, business was flourishing as was Merced with its University and Medical institutions investing in the city, but of course just a few months later the pandemic closed the restaurant doors. With no outdoor patio Bella Luna suffered immensely surviving mainly on Government PPP loans.
We continued to market for sale and had some serious interest during 2020. By September 2020 Giancarlo DiTullio, a Listing Transaction Agent for Restaurant Realty and a prior seasoned restaurant operator saw the potential of rebuilding the business to its former glory and beyond. Giancarlo has high energy and has a passion for people and love for the hospitality industry. Giancarlo’s hands-on experience and understanding of the sacrifice and a sense of pride around operating a restaurant will undoubtedly lead to his success in this new opportunity.
Due to the difficulties in obtaining a long-term SBA loan, Giancarlo requested the Seller to provide financing until he has rebuilt the business and its ability to obtain SBA financing. The Seller agreed and as Counties reopen dining across California, the timing of such a purchase could not have been better for Giancarlo who looks forward to putting his many years of Hospitality experience into his own venture, while Vinnie a happy retirement.
Escrow closed on March 17th 2021 (St Patrick’s Day – a good Omen).
We wish Vince much good health and happiness during his retirement and wish Giancarlo much success in his new venture.