Milano Restaurants International, the Fresno-based parent company of Me-N-Ed\u2019s Pizzeria, has been sold to its employees.<\/p>\n
The company announced in a Thursday night news release that shareholders, led by President and CEO John Ferdinandi, completed the sale of Milano to its workforce, who now own 100% of the multi-unit restaurant operator.<\/p>\n
Milano\u2019s portfolio includes the Me-N-Ed\u2019s varieties Coney Island and Victory Grill, as well as Blast & Brew and Piazza del Pane.<\/p>\n
\u201cWe want our loyal employees to benefit as they continue to help grow the company,\u201d Tom Ferdinandi said in a news release. \u201cMilano will remain independent, strong, and stable, and our future should continue to be built by the team, not by outside investors. We decided to implement the ESOP because we believe it is the best way to provide all our team members with a meaningful stake in the company.\u201d<\/p>\n
60 Locations Across California<\/p>\n
Founded in 1958, Me-N-Ed\u2019s has become a Fresno institution with more than 60 company-owned and operated restaurants in California. The brand includes another dozen franchise-owned restaurants in California and Arizona, according to its website.<\/p>\n
John Ferdinandi said in the release that transferring ownership to employees preserves the legacy built by their father, Tom Ferdinandi Sr.<\/p>\n
\u201cBy giving everyone a real stake in our success, we\u2019re building on the foundation laid by our father, Tom Ferdinandi Sr., his partner, Jim DeMera, and the many employees who contributed to the operations starting in 1958,\u201d John Ferdinandi said. \u201cSince that time, we\u2019re continued to drive that growth with the support of our team, ensuring we deliver exceptional experiences and keep Me-N-Ed\u2019s and its sister brands thriving for generations to come.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Milano Restaurants International, the Fresno-based parent company of Me-N-Ed\u2019s Pizzeria, has been sold to its employees. The company…\n","protected":false},"author":2,"featured_media":186272,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[112,114,113],"class_list":{"0":"post-186271","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fresno","8":"tag-fresno","9":"tag-fresno-headlines","10":"tag-fresno-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/186271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=186271"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/186271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/186272"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=186271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=186271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=186271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}