Three Atlanta-area restaurants are getting new ownership, with restaurateur Ray Schoenbaum selling Ray’s Restaurants to step back and enjoy his retirement after 40 years in the business.
Kennesaw-based TEI Hospitality is the new owner of Ray’s on the River, Ray’s at Killer Creek and Ray’s in the City. All three restaurants will remain open with the same names and staff.
“Like us, TEI Hospitality is a family-owned company that has been around for decades, so they share our values and understand the importance of relationships and providing our guests a first-class experience,” Schoenbaum said in a news release. “Choosing a buyer was not something I took lightly, and I am thrilled to have found someone who will continue the great tradition of Ray’s Restaurants. Nothing is going to change!”
The sale will be finalized in June, and Schoenbaum will continue to guide the transition for the first 30 days. The restaurants will remain open during the transition.
“We are honored to continue the tradition of Ray’s Restaurants and could not be more thrilled to carry on its legacy,” TEI Hospitality owner Dan Groom-Traina said. “We look forward to continuing the same excellent standards of food and service that Ray’s restaurants are known for. Ray’s isn’t going anywhere and will keep serving its communities for the next 40 years!”
Ray’s Restaurants was founded in 1984. Each restaurant features a menu emphasizing fresh fish flown in daily from the Atlantic and Pacific, house-cut chops, prime steaks and extensive wine offerings.
