**Private Equity Firm Acquires Kelly’s Roast Beef: A New Chapter for an Iconic Brand**
In a significant development for the local culinary scene, Kelly’s Roast Beef, a beloved 74-year-old chain renowned for its mouthwatering sandwiches on the North Shore, has been acquired by a Burlington-based private equity firm. The acquisition, which was officially announced in a press release on Tuesday, encompasses the transfer of both the iconic brand and four of its esteemed locations.
**A Shared Vision for Success**
The private equity firm behind this acquisition, AAM15 Management, expressed a mutual vision with Kelly’s Roast Beef that underscores the importance of quality, tradition, and community connection. According to a spokesperson for AAM15, this strategic move is poised to usher Kelly’s Roast Beef into a new era of prosperity while preserving its fundamental values that have endeared it to generations of customers.
**Expanding Horizons While Honoring Heritage**
Established in 1951 as a humble hot dog stand on Revere Beach, Kelly’s Roast Beef has since become synonymous with the delectable North Shore roast beef sandwich—a culinary delight featuring rare, thinly sliced roast beef, creamy mayonnaise, and the signature James River BBQ sauce. The brand’s expansion beyond its Massachusetts roots has seen it become a fixture in various North Shore communities, a testament to its enduring popularity and culinary excellence.
**Looking Towards the Future**
With the transition of ownership to AAM15 Management, Kelly’s Roast Beef is poised for new opportunities and growth avenues. Whether through the establishment of new locations or the implementation of operational enhancements, the brand is primed to evolve while staying true to its rich heritage and culinary legacy.
**A Diverse Portfolio of Success**
AAM15 Management, the driving force behind this landmark acquisition, boasts a diverse portfolio that includes Marriott hotel properties, apartment complexes, a country club in Ipswich, and a sports bar in Woburn. This track record of managing and expanding iconic hospitality brands positions AAM15 as the ideal steward for Kelly’s Roast Beef’s continued success and evolution in the competitive culinary landscape.
As the culinary landscape of the North Shore undergoes a transformation with this acquisition, food enthusiasts and loyal patrons of Kelly’s Roast Beef can look forward to a new chapter in the brand’s storied history—one that promises innovation, growth, and a steadfast commitment to culinary excellence.