Graham Holdings Company Acquires Clyde’s Restaurant Group
July 31 2019 - 8:30AM
Business Wire
Graham Holdings Company (NYSE: GHC) today announced it has
acquired Clyde’s Restaurant Group. The purchase price was not
disclosed.
Timothy J. O’Shaughnessy, chief executive officer of Graham
Holdings Company, said: "Founded in 1963, the Clyde’s group of
restaurants are well-run businesses that align with our investment
strategy: working with great management teams to operate businesses
with a long history of profitability. Clyde's Restaurant Group has
been a Washington institution that includes Old Ebbitt Grill and
The Hamilton, two of the top twenty highest grossing independent
restaurants in the country. We are thrilled about the long-term
possibilities of this business and we are looking forward to
continuing to serve hungry and thirsty D.C. area diners for years
to come.”
“For 56 years, Clyde’s Restaurant Group has served the
Washington, D.C. area and has built a great business based on our
commitment to quality and service. Graham Holdings Company is well
suited to be the new steward of the Clyde’s brands in that we share
the same values and dedication to the region. We are excited to
join such a well-respected company and equally excited about the
future,” said Thomas M. Meyer, president of Clyde’s Restaurant
Group.
Clyde’s Restaurant Group is comprised of thirteen restaurants
and entertainment venues including eight Clyde’s locations, Old
Ebbitt Grill, The Hamilton, 1789 Restaurant, The Soundry, and The
Tombs.
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Pinkie Mayfield Pinkie.Mayfield@ghco.com (703) 345-6450
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