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Wayne Stabiler Donates Ownership of Five Restaurants to Management Team
Posted on 8/7/23 at 4:03 pm
Posted on 8/7/23 at 4:03 pm
This is mighty interesting.
LINK
LINK
quote:
Baton Rouge restaurateur Wayne Stabiler and his wife, Luci, have donated full ownership of five of their local restaurants to members of the management team.
The transfer of ownership has been underway for the past four months and became effective Aug. 1, says Kevin Kimball, who was previously director of operations for Wayne Stabiler Companies. Stabiler donated ownership rights to Stab’s Prime Steak and Seafood on Jefferson Highway, Stab’s Steak and Seafood in Central, both locations of The Little Village, and Sammy’s Bar and Grill. Stabiler will retain ownership of Palermo Ristorante on Jefferson Highway in the Bocage area.
The move will allow Stabiler to spend more time with his grandchildren, says Kimball, who was named a part co-owner of the five restaurants. “This is over and above what any of us could have ever dreamed of,” Kimball says. “They have changed our lives and we are extremely humbled, amazed and will be forever grateful for their tremendous generosity.”
The restaurants will be independently owned and will not operate under the umbrella of a single ownership group. While the new owners have “a lot of plans for the market” in the future, they are not ready to elaborate on the details at this time, Kimball says.
The new owners are:
Stab’s Prime Steak and Seafood on Jefferson Highway: Kevin Kimball, Leo Verde and Dori Murvin.
Stab’s Steak and Seafood in Central: David Rine and Kevin Kimball.
The Little Village, both locations: Hugh Freeze and Kevin Kimball.
Sammy’s Bar and Grill: Joey Faciane, Kevin Kimball, Jeremy Webber, Dondi McNulty and Fritz Carville.
This post was edited on 8/7/23 at 4:14 pm
11
Posted on 8/7/23 at 4:10 pm to Gris Gris
I guess donating ownership means he doesn’t retain any shares? Either way, it’s a great story. I know he made a successful business, so good to see him pass on the restaurants and enjoy his life.
Posted on 8/7/23 at 4:13 pm to SixthAndBarone
He made a fortune after Katrina and every disaster since than with providing meals to workers on gov't contracts
Posted on 8/7/23 at 4:14 pm to Gris Gris
What a cool legacy. It's all in good hands with Kevin Kimball. That's a boss way to retire.
Posted on 8/7/23 at 4:20 pm to Gris Gris
That’s awesome
Bet he’ll keep the real estate, which I assume he owns?
Bet he’ll keep the real estate, which I assume he owns?
Posted on 8/7/23 at 4:37 pm to Gris Gris
That a different Hugh Freeze?
Posted on 8/7/23 at 4:37 pm to GynoSandberg
quote:
Bet he’ll keep the real estate, which I assume he owns?
The article isn't clear about that. Don't know if this is just the restaurants' businesses or the whole kit and caboodle.
Posted on 8/7/23 at 4:44 pm to Gris Gris
Palermo is very underrated and one of if not the best Italian in Baton Rouge
This post was edited on 8/7/23 at 4:45 pm
Posted on 8/7/23 at 5:14 pm to J Murdah
Palermo is fanstatic, just be ready to pay for it
Posted on 8/7/23 at 5:36 pm to Gris Gris
This is great for my boy Word!!!
This post was edited on 8/7/23 at 5:36 pm
Posted on 8/7/23 at 5:37 pm to KTrain915
quote:
That a different Hugh Freeze?
Lol yes. Dudes been working for him forever. Good for him.
Posted on 8/7/23 at 6:04 pm to Gris Gris
quote:
The Little Village, both locations: Hugh Freeze and Kevin Kimball
Posted on 8/7/23 at 6:11 pm to Gris Gris
The owners just bought the lease from Tommy's Fish house and will turn it into another Sammy's. 3 guys there also get Catering Cajun. Class move by Wayne and his family.
Posted on 8/7/23 at 6:13 pm to nicholastiger
Plus military contracts
Posted on 8/7/23 at 7:25 pm to Gris Gris
I'm sure there is a lot more to this than a simple donation but overall I think this is great for all involved. When Sammy's closed all of the employees where left without paychecks and Wayne stepped up and paid them (at least so I hear). If this benefits all including the Stabilers, then so be it. Bravo to the past and current owners.
Posted on 8/7/23 at 7:36 pm to bigberg2000
…
This post was edited on 8/8/23 at 2:09 pm
Posted on 8/7/23 at 8:17 pm to Btrtigerfan
Wow! Larry is a good guy. Tough business to be in for a long time.
This post was edited on 8/7/23 at 8:19 pm
Posted on 8/8/23 at 9:49 am to JimJack
quote:
I'm sure there is a lot more to this than a simple donation but overall I think this is great for all involved.
Don't know, but there are multiple thank you posts from the recipients of the restaurants on Facebook. One person said it all started with a meeting and Wayne told them he wanted to give them the restaurant which was Stab's in BR. They are all grateful.
Posted on 8/8/23 at 9:51 am to Gris Gris
When I first say the story, I assumed he had no kids and so giving it to the employees was a good option, but then it mentioned spending more time with the grandkids, so that wasn't the case. A very generous move on his part, but I found it odd he wouldn't pass it down to his kids.
Posted on 8/8/23 at 10:34 am to jfw3535
The Stabiler's are a class act. Wayne coached me and my brothers in football for middle school. Always was a great guy and great mentor.
This post was edited on 8/8/23 at 10:35 am
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