Related has purchased a portion of restaurateur Danny Meyer’s Union Square Events, Business Week reported. The pair will partner on future ventures, the first being Related’s Hudson Yards.
Meyer, of Shake Shack fame, sees it as an opportunity to extend his brand to stadiums and other properties that his products don’t currently reach, and Related gets the cachet that Meyer’s popular chains bring.
Meyer built his fame with New York City restaurants like Union Square Cafe, Gramercy Tavern and Eleven Madison Park.
“The senior leaders at Related have abundant hospitality experience, so they speak our language,” Meyer said. “With them we can be more strategic in scaling our business.” [Business Week]