XAVIER CERVERA ENTERTAINS OFFERS TO BUY HIS CAPITOL HILL RESTAURANTS
by Larry Janezich
This afternoon, local restaurateur Xavier Cervera confirmed to Capitol Hill Corner that he has received offers to buy all nine of his Capitol Hill operations, and that he is reviewing these offers seriously. “I have been approached by a private equity group out of Boston and have made large offers which I have not accepted,” Cervara said on the phone this afternoon. “The offers grow larger every week. They have a lot of experience in the restaurant business. They have looked very closely at my operation and like what they see. They are being very aggressive.”
Cervera added: “I am close to all of my restaurants and the 345 employees. You don’t build this kind of operation in four and a half years without great staff. It’s hard to let something like that go.”
Over the past few years, Cervera has opened several restaurants in the neighborhood: those currently in operation include Lola’s, Molly Malone’s, the Chesapeake Room, Senart’s Oyster & Chop House, Pacifico, and The Box Car Tavern. Three more are scheduled to open soon: the Park Tavern will open in three weeks (corrected) in the Navy Yard neighborhood in Southeast; the Hawk & Dove will open early in February; construction has just started on Willie’s Brew and Que, also (corrected) near the Navy Yard.
This would not be the first time Cervera sold his developments as a package. Originally from Miami, he developed several boutique hotels there and sold them as a package some 15 years ago.