Monday, March 3, 2008

Racanelli's New York Style Pizza Expansion

From the St. Louis Business Journal.

A pair of local restaurant businesses, Racanelli's Pizza and Pfoodman Holdings, formed a joint venture to open a restaurant in University City's Delmar Loop, called Racanelli's Bar and Trattoria.
The joint venture company, J&R Pizza Ventures LLC, plans to spend $1 million to create a prototype restaurant at 6655 Delmar Blvd., where Racanelli's has its original, pizza-by-the-slice location. Racanelli's Pizza and Pfoodman, an onsite catering management company, also have reached an agreement that calls for Pfoodman to supply restaurant administrative services for Racanelli's planned expansion.
John Racanelli, owner of Racanelli's Pizza, said he and Ralph Pfremmer, chief executive and owner of Pfoodman, plan to expand the pizzeria business, and if the prototype restaurant takes off, expand that concept as well. Racanelli said the new trattoria, expected to open in July, will include a wood-burning pizza oven, an expanded menu and seating for 85.
Racanelli's opened its first pizzeria restaurant here in 1994 and now has five company-owned locations. Racanelli's plans to franchise its sixth location -- scheduled to open March 15 at Mid Rivers Mall in St. Peters.
John Racanelli's separate general contracting business, Rebar Food and Beverage Inc., provides build-out work for his pizzerias and will build out the trattoria. The combined Racanelli operations have a staff of 65 and generated $3.5 million in revenue for 2007, he said. Racanelli said he expects revenue of $4.5 million this year.
Pfoodman has 300 employees and grew its annual revenue to $9.6 million last year. Pfoodman's clients include Lindenwood University and St. Louis College of Pharmacy.

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