Chicago Group Leads Revival of Iron Hill Brewpubs
Exciting news for the restaurant world: Chicago’s own Ciao Hospitality Group has stepped in to acquire ten former Iron Hill Brewery & Restaurant locations, promising a resurgence for these popular spots. This significant move, led by a local Chicago entity, means a second chance for several beloved brewpubs that had previously shuttered due to bankruptcy, including a particularly high-performing location in Lancaster, Pennsylvania.
A Fresh Start for Shuttered Favorites
The journey to revival began with Ciao Hospitality Group’s successful $12 million bid, which received approval from the U.S. Bankruptcy Court in New Jersey. This critical decision paves the way for reopening these establishments, injecting new life into local economies and offering renewed dining experiences for communities that sorely missed their brewpubs. The closures were part of a larger bankruptcy liquidation by Iron Hill, which had amassed $20 million in creditor debts.
Ciao Hospitality Group: A Strategic Chicago Player
Driving this expansive acquisition is Ciao Hospitality Group, a dynamic Chicago-based restaurant and investment firm. Co-founder Jeff Crivello brings a wealth of experience, having previously served as CEO of the national chain Famous Dave’s BBQ. Beyond Ciao Hospitality, Crivello also oversees TREW Capital Management Group, a private equity firm that notably acquired California-based Rubio’s Coastal Grill out of bankruptcy in August. Ciao’s existing portfolio includes Minnesota-based Cowboy Jack’s, demonstrating a clear pattern of strategic investments in the hospitality sector.
The Geographic Reach of the Revival
Ciao Hospitality Group’s acquisition spans multiple states. The former Iron Hill locations in Pennsylvania include Hershey, Center City Philadelphia, Huntingdon Valley, Newtown, and West Chester. Wilmington, Delaware, is also part of the deal. Beyond these, two locations in South Carolina and one in Rehoboth Beach, Delaware, were acquired. However, the plan is to resell the Rehoboth Beach and the two South Carolina sites to Virginia-based Three Notch’d Brewing Co. For the remaining locations under Ciao’s direct management, including all the Pennsylvania and Delaware sites, the decision is pending on whether they will reopen as Iron Hill or under an entirely new brand identity.
Anticipation Builds for Lancaster’s Brewpub
Among the most anticipated reopenings is the former Iron Hill Brewery & Restaurant in Lancaster city, situated at 781 Harrisburg Ave. This beloved spot, which first debuted in 2007, quickly became a community favorite. In the year leading up to its closure, it boasted an impressive $5.6 million in gross sales, ranking as the chain’s fifth busiest location nationwide. The good news for local patrons is that this Lancaster establishment is projected to reopen its doors “within the next few months,” though whether it will retain the Iron Hill name remains to be seen.
Overview of Acquired Locations and Their Future
| Location | Acquired By | Future Status |
|---|---|---|
| Lancaster, PA | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| Hershey, PA | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| Center City Philadelphia, PA | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| Huntingdon Valley, PA | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| Newtown, PA | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| West Chester, PA | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| Wilmington, DE | Ciao Hospitality Group | Reopening (Iron Hill or new brand) |
| Rehoboth Beach, DE | Ciao Hospitality Group | Resold to Three Notch’d Brewing Co. |
| Two locations in South Carolina | Ciao Hospitality Group | Resold to Three Notch’d Brewing Co. |
Frequently Asked Questions
- Who is Ciao Hospitality Group?
Ciao Hospitality Group is a Chicago-based restaurant and investment firm co-founded by Jeff Crivello, which specializes in acquiring and revitalizing restaurant brands. - When are these former Iron Hill locations expected to reopen?
The Lancaster, PA location is anticipated to reopen “within the next few months.” Specific timelines for other locations under Ciao’s direct management will be announced. - Will the revived locations operate as Iron Hill Breweries?
The new owner, Ciao Hospitality Group, has indicated that locations like Lancaster could reopen either under the original Iron Hill brand or as a completely new concept. - What led to Iron Hill Brewery & Restaurant’s initial closure?
Iron Hill filed for Chapter 7 bankruptcy liquidation after closing 16 of its locations, reporting $20 million in debts to various creditors. - What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy involves the liquidation of a company’s assets by a trustee to pay off creditors, in contrast to Chapter 11, where a company typically reorganizes and continues operating.
For Chicago residents, this acquisition by Ciao Hospitality Group highlights the substantial and far-reaching influence that locally-based enterprises can exert on the national dining scene, not only preserving cherished dining establishments but also forging new pathways for culinary innovation and economic growth across multiple communities.
Chicago Group Revives Iron Hill Brewpubs
