Pawtucket, RI Coastal M&A negotiated the sale of B&M Catering Co. and the real estate located at 560/588 York Ave.
Justin Grolley, MBA, CBI, CMEA of Coastal M&A was the Consultant assisting the sellers, Brian and Mickey Doherty.
The transaction closed on June 30, 2022, and terms were undisclosed.
The 17,633 s/f facility features a large production area, walk-in coolers/freezers, warehouse and several storage areas, office space, and parking.
The business was acquired by Teamshares, a New York based startup that purchases companies and transitions them to employee ownership.
Over 30 years ago, brothers Brian and Mickey Doherty, enjoyed making clambakes for friends and neighbors.
Their reputation for preparing fresh seafood and local produce, along with the passion for their work, and solid attention to detail quickly spread and they grew into an award-winning hospitality company handling all types and sizes of catering events.
The business with 45 employees, offers full-service catering, pick-up and delivery, bar services and curbside catering. The menu is filled with all types of food options, specializing in clambakes, chicken and pig B-B-Qs, and Luaus. From casual backyard gatherings to corporate celebrations, weddings, school lunches, graduations, and reunions, the team of experts B&M catering has serviced clients all along the East Coast of the USA.
According to the Teamshare’s website, Employee-Owned companies outperform traditional peers with 14% more profitability and 25% greater survival rates in recessions.
Their unique ownership model provides a way to reward hard-working employees while honoring the legacy of the Company’s founders. Teamshares is excited to be partnering with B&M and looks forward to continued growth and commitment to providing exceptional catering services to its customers for many years to come.