ATLANTA — An Atlanta restaurateur who has operated a collection of upscale steak and seafood restaurants for 40 years will sell his company.
Ray Schoenbaum, founder and owner of Ray’s Restaurants, is retiring, according to a statement provided to Atlanta Business Chronicle. He has an agreement to sell his three restaurants: Ray’s on the River, Ray’s in the City and Ray’s at Killer Creek.
TEI Hospitality, a family-owned restaurant and hospitality company based in Kennesaw, is the buyer.
A spokesperson for Ray’s Restaurants could not disclose the value of the deal, or additional information about the buyer. It’s not clear what the buyer plans for the restaurants.
