New culinary custodians: Trio of Walla Walla restaurants change owners

Published 11:45 am Tuesday, September 26, 2023

WALLA WALLA — Three popular Walla Walla area restaurants are in a new set of hands.

Hop Thief Taphouse and Kitchen, Stone Hut Bar & Grill and Red Monkey Downtown, formerly owned by Juston Watson of Kegs and Grub Hospitality, have been sold to Robert Jacobs and Drew Westermeyer ownership group, which also oversees the operation of Amendment XXI, a prohibition-style bar and grill in Richland, Washington.

The transaction was brokered by METIS, which is considered to be a premier mergers and acquisitions advisory firm in the Pacific Northwest. The firm has a particular focus on the hospitality and wine industries.

“We are thrilled to be able to acquire such beloved restaurants located in one of America’s best communities,” said Robert Jacobs, a member of the new ownership. “Our group has strong ties to Walla Walla, and we appreciate how important these establishments are to their loyal customers. We are excited to build on the incredible culture Juston Watson and his team have created. We look forward to working with the staff and the regulars to continue to provide unique hospitality experiences in the Walla Walla community.”

Founded in 2001, Watson grew the business from a single establishment into a collection of three hospitality venues, each distinguished by its unique branding and concept. Stone Hut, a neighborhood bar with a local following, stands as one of Walla Walla’s longest continuously operated bars — established in the 1940s — and is known for its classic bar fare, cocktails and as one of Walla Walla’s breakfast spots.

Red Monkey Downtown, established in 2009, provides a family centric bar and grill experience with a menu catering to both kids and adults.

Hop Thief Taphouse and Kitchen in College Place serves as a family-friendly restaurant and a sanctuary for beer enthusiasts, being the second self-serve tap house concept in the state. Here, guests can indulge in self-poured beer, wine, cider and even kombucha, all available by the ounce.

“It was very important to both me and my wife Lori that the new owners share our values and core beliefs and would take great care of our staff and customers after the sale,” Watson said in the news release. “I have spent a lot of time getting to know these guys over the past year, and I know they will do a great job. These restaurants are in great hands.”

The new ownership group has no immediate plans for major changes to the restaurants, the news release said.

“One of the many things that attracted us to this group of restaurants was how involved Juston and his staff have been in the Walla Walla community,” Jacobs said. “We plan to continue to build upon some of the innovative digital and community engagement concepts Juston and his team have created.”

Chris Garratt, managing director at METIS, said the firm has worked hard to find the perfect fit for Watson’s businesses. Garratt who has been working closely with both the buyer and seller, said business as usual will follow the changing of hands with no changes to the loyalty and text club program. Points accrued through these programs are still good as are gift cards that have been purchased before the change of ownership.

Additionally, Garratt said programs such as Cheeseburger Charity will continue to run through the new buyers.

METIS serves the hospitality, wine, and beverage industries and is led by Walla Wallan Erik McLaughlin. The firm specializes in capital transactions within these industries, offering strategic assessments for liquidity, exit strategies, and growth initiatives such as mergers, acquisitions, recapitalizations and management buyouts.

“In working with Rob and his partners, we found them to have the ability, vision and commitment to successfully steward these restaurants for both guests and employees,” Garratt said in the news release. “We are excited to welcome them to Walla Walla and look forward to enjoying more great meals at Stone Hut, Hop Thief and Red Monkey for years to come.”

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