PHILADELPHIA, PA—In an unusual crossover from fashion to food, Urban Outfitters, which owns Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands, is acquiring substantially all of The Vetri Family group of restaurants including award winning Pizzeria Vetri.

As previously reported by GlobeSt.com, Vetri recently negotiated an early exit from its lease for its Osteria restaurant at PREIT's Moorestown Mall location, amid news reports that the high-priced, upscale restaurant was meeting resistance from mall visitors on its pricing. PREIT has announced that Osteria, which will close November 21, will be replaced by another locally owned Italian restaurant, Catelli Duo.

"Having known Marc for almost a decade and partnered with him through his charitable foundation, we are honored to have him, Jeff and the Vetri family join the URBN team," says Richard A. Hayne, CEO of Urban Outfitters. "Spending on casual dining is expanding rapidly, and thus, we believe there is tremendous opportunity to expand the Pizzeria Vetri concept."

The Vetri Family group of restaurants was created and co-headed by James Beard Award-winning chef Marc Vetri and his business partner, Jeff Benjamin. Urban Outfitters will acquire all of the chain's restaurant brands, including Osteria, Amis, Alla Spina, Lo Spiedo, and Pizzeria Vetri, but not the original Vetri restaurant on Spruce Street in Philadelphia.

It's a perfect match," says Marc Vetri. "URBN and the Vetri Family share the same singular goal, we pride ourselves on bringing the best possible experience to our customers and community. Through this partnership, and the experience URBN has in scaling growth opportunities, the Vetri Family will now be able to focus on what we do best – run restaurants that make people happy."

Instant Insights /

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