Knot Just a Bar of Bay Harbor Transitions Ownership to Local Investors, Paving the Way for a New Restaurant Venture
Small Business Deal Advisors, LLC is elated to announce the successful completion of the transaction involving its client, Knot Just a Bar, of Bay Harbor, Michigan. The restaurant’s lease has seamlessly transitioned to a group of local investors who are poised to open a new establishment into the venue.
Founded in 2000, Knot Just a Bar was an upscale, yet casual bar and restaurant nestled in the heart of Bay Harbor Village, a well-known resort community renowned for its dining and shopping attractions. With a patio overlooking the stunning Bay Harbor Marina, the restaurant was a beloved gathering spot for both locals and tourists alike.
In 2015, Knot Just a Bar was acquired by David and Amanda Waskiewicz, who also own another successful location of Knot Just a Bar in Omena, Michigan. Over the last eight years, David managed the Bay Harbor location while Amanda operated the Omena location. In late 2022, the couple made the decision to scale back their commitments in order to spend more time together with their family. In light of this decision, the couple engaged Small Business Deal Advisors to assist with the sale.
David stated, “I had a great experience working with Scott. He was detailed oriented, maintained strong communication, and kept me on task without making the process stressful.”
The torch has now been passed to a group of local individual investors, namely Bryant and Jamie Morrison, Philip and Laura Morrison, as well as Rick Iceberg. The group has assumed Knot Just a Bar’s lease and will introduce a brand-new restaurant concept to the space.
Bryant, Jamie, Philip and Laura are established local restauranteurs, already owning two successful establishments in Bay Harbor, Michigan, Maple + Batter, and NOMAD. Maple + Batter is a delightful breakfast and brunch spot known for its inviting atmosphere and a diverse menu of sweet and savory options. While NOMAD is the group’s fine dining establishment, featuring an artfully crafted menu inspired by global flavors and influences. With their extensive experience in the local restaurant industry, this investor group is well-equipped to bring their culinary expertise to the Knot space.
The forthcoming restaurant, Brandy’s Harbortown, is envisioned as a waterfront cabana bar and restaurant with a coastal ambiance. Collaborating with their talented chefs and teams at Maple + Batter and NOMAD, the group aims to curate a casual menu infused with their own distinctive style and flair. The new restaurant is set to open in Bay Harbor Village on May 1, 2024.
Philip Morrison commented, “I am excited to announce the upcoming launch of Brandy’s Harbortown in Bay Harbor Village, alongside my partners, Bryant and Jamie Morrison, Laura Morrison, and Rick Iceberg. As the owners of Maple + Batter and NOMAD, we are excited to bring our passion for exceptional dining experiences to Bay Harbor Village. Brandy’s Harbortown will be a fun and welcoming destination where visitors can enjoy stunning waterfront views and delicious food. We’re all eager to open our doors on May 1, 2024, and contribute to Bay Harbor Village’s charming restaurant and shopping district.”
Scott Nicholson, Mergers and Acquisitions Advisor at Small Business Deal Advisors, was the lead advisor on the transaction.
“I am pleased we found local buyers deeply rooted in the community and possess a wealth of restaurant experience. I look forward to visiting Brandy’s Harbortown next summer. Additionally, I’m very pleased for David and Amanda. They are great people, and I’m glad they can focus on running the Knot Just a Bar location in Omena while enjoying more family time,” stated Scott Nicholson.
Small Business Deal Advisors provided Knot Just a Bar – Bay Harbor with expert guidance throughout the entire process of selling the company, including the creation of promotional materials, extensive marketing efforts, consulting during negotiations, due diligence, and closing. The transaction was managed by SBDA Associate, Scott Nicholson.
The terms of the transaction were not disclosed.