One of downtown Wilmington’s longest-running pizza restaurants has new ownership, with I Love NY Pizza sold to Megan Jackson and Jeremy Bailey after years under the ownership of Dino Psilos and John Karonis.
The transaction was completed by MoMentum Companies, according to a news release. The restaurant has served downtown residents, visitors, hospitality employees, concertgoers and late-night customers, building a loyal following around its New York-style pizza and long-tenured staff.
Karonis said the business became about more than food over the past two decades.
“When I look back now, I realize it was never just about running a business. It was about the people I was blessed to spend the past 20 years with,” said John Karonis. “I’m grateful
for every employee who worked alongside me and became like family members to me, the great City of Wilmington, and all the loyal families and customers who made our shop part of their lives.”
Psilos said the new owners are well-positioned to continue the restaurant’s legacy.
“Owning I Love NY Pizza has been an incredible experience,” said Dino Psilos. “We’re grateful for the support of our customers and staff over the years and are confident that Megan and Jeremy will continue the tradition while bringing their own energy and vision to the business.”
New owners plan to maintain restaurant's identity
Bailey said preserving the restaurant’s existing character was a major reason he pursued the acquisition.
“The best thing about I Love NY Pizza is that it is already about as close to perfect as you can get,” Bailey said. “It has great food, a great team, and a loyal customer base. Our intention is not to come in and change what people love about it. We want to protect it and continue it.”
Bailey said customers should continue to see familiar staff members, including general manager Andy Columbus.
“The goal is that when someone comes up to that window on a Friday night, it still feels like I Love NY Pizza,” Bailey said. “You’ll see the same faces, General Manager, Andy Columbus, will still be there to greet you, and the pizza and the quality people expect will remain the same.”
According to the announcement, Bailey has experience operating larger restaurant concepts and viewed I Love NY Pizza as a rare opportunity to acquire an established independent restaurant with a recognizable brand, experienced employees and strong ties to downtown Wilmington.
“This is the kind of business you hope can be here another 20 or 30 years,” Bailey said. “It has become part of the character of downtown Wilmington, and that was a big part of what made the opportunity so attractive.”
New co-owner Megan Jackson also expressed enthusiasm about leading the restaurant into its next chapter.
Sellers and broker highlight continuity
Terry Espy, principal and broker at MoMentum Companies, said the sale stood out because it allows longtime owners to move on while preserving a business that has become familiar to many Wilmington residents.
“I love it when a transaction is truly a win for everyone involved,” Espy said. “Dino and John built a wonderful business and an extraordinarily loyal following. What made Megan and Jeremy such a good fit was that they immediately understood what they were acquiring. They weren’t looking at I Love NY Pizza and thinking about everything they wanted to change. They recognized what was already special about it.”
According to the announcement, Espy said independently owned restaurants often become woven into the identity of a downtown district because customers associate them with personal memories and community traditions.
The ownership change marks a new chapter for I Love NY Pizza, but customers can expect many of the elements they have come to know to remain in place, including longtime employees and the restaurant’s menu.
For regular customers, the message from both the former and new owners is straightforward: the pizza, the people and the downtown presence they recognize are expected to stay the same.
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This article originally appeared on Wilmington StarNews: Iconic downtown Wilmington pizza restaurant has new owners
