Paul Stevenson has sold his phenomenally successful Paesano and Sugo venues to DRG – owned by Mario Gizzi and Tony Conetta. The deal, reportedly worth eight figures, will see the restaurants become part of Glasgow-based DRG whose venues include Cafe Andaluz, Di Maggio’s and Amarone as well as Anchorline, The Atlantic and The Citizen.
Stevenson opened his first Paesano in 2015, and his first pizza-only restaurant took off. He opened Paesano number two on Great Western Road in 2017, followed by a pasta-only restaurant Sugo in 2019.
DRG is Scotland’s most successful family owned independent restaurant group. It employs around 1000 people and has a turnover in the region of £45m. It is a real coup for DRG as in the past Paul Stevenson has revealed that he had been approached by corporate companies and by private equity groups who wanted to buy the business. However, he has chosen to sell to a fellow Glasgow-based family-owned business.
Mario Gizzi told DRAM, “We are delighted and very happy that Paul chose us as a safe pair of hands for the business that he has put a lot of time and effort into. “We are honoured to be in that position and will spend the next few months learning about the business and getting to know the team.
“It is a formula that works and there are no plans to tinker with it. Once we understand it, we will try to roll out both brands in a structured fashion.
“DRG has never been a company to rush in, we prefer to take things sure and steady.”
Picture: Paul Stevenson