Carpionato Group buys last 29 Benny’s locations

November 28, 2017 5:24 pm

By: News Staff

Email: news@abc6.com

Twitter: @ABC6

PROVIDENCE, R.I. (WLNE) —The lasting Benny’s locations have been bought by real estate company Carpionato Group, LLC, authorities announced on Tuesday.

After announcing the closure of the 93-year-old company back in September, Carpionato Group, LLC, will purchase the remaining fourteen locations in Rhode Island, eleven in Massachusetts and four in Connecticut.

There are two locations, Kelly M. Coates, Senior Vice President, Commercial Development, Finance & Leasing said, that two locations that are under lease contracts, will not be part of the sale.

As stores continue to close, including the stores on Post Road in East Greenwich and on Kingstown Road in Wakefield on Monday, authorities are pleased a deal has been reached.

“We’re especially pleased to be able to sell these properties to a local real estate development and management company who understands the Benny’s legacy and is familiar with our locations,” said Howard Bromberg, the President of Benny’s, Inc.

Alfred Carpionato, the President of Carpionato Group, LLC added: “It is a privilege for our organization to succeed to the Bromberg family’s ownership of these properties. Benny’s has been such a vital part of our community for generations. Like Benny’s, we, too, are a longstanding member of the same community. We are grateful for the opportunity to carry on the Bromberg’s tradition of responsible real estate ownership and management.”

Officials did not comment on the terms of the sale, but noted they believe the closing will go into effect during the first quarter of 2018.