What's Happening?
Totonno’s, a historic pizzeria in Brooklyn, New York, is seeking new ownership as the current family owners face succession challenges. The pizzeria, established in 1924 by Anthony 'Totonno' Pero, is one
of the oldest family-owned pizzerias in the U.S. The current owners, Antoinette Balzano and her sister Louise 'Cookie' Ciminieri, are unable to continue running the business due to age and health issues, and lack younger family members to take over. The decision to sell was made after Ciminieri's son, who was set to inherit the business, became unable to manage it due to health problems.
Why It's Important?
The sale of Totonno’s marks the end of an era for a business that has been a staple in the Brooklyn community and a part of New York's culinary history. The transition highlights broader issues faced by family-owned businesses, particularly those with deep historical roots, as they navigate succession planning. The potential sale could impact the local economy and cultural landscape, depending on the new owner's vision for the pizzeria.
What's Next?
The current owners have received over 200 inquiries from potential buyers, with at least one promising lead. The new owner will need to appreciate the pizzeria's historical significance and maintain its legacy. The transition may involve changes in operations, but the owners hope to preserve the essence of Totonno’s.
