Updated 3:40 pm
Louie Larsen has sold the Net Result to Michael Santoro of the Santoro Hospitality Group for an undisclosed sum. The deal was finalized Thursday morning.
Larsen said he will stay on in an undesignated capacity, and Mike Holtham, whose family owned the Home Port in Menemsha, will manage the market. As of Aug. 1, Holtham will have been at the Net Result two years. Larsen said the business will largely stay the same, right down to the telephone number and Post Office box, though one place that may see tweaks is the takeout window. Larsen said he imagined Santoro would make adjustments from a restaurateur’s perspective. The fish market will remain as is.
“It’s not broken, why fix it,” he said.
As of July 4, Larsen said, the Net Result will have been operating for 34 years.
Larsen said he is looking forward to more free time: “I’m hoping to be a babysitter for my grandkids, and looking forward to going fishing.” Larsen said he hasn’t had any time to fish, and hasn’t even put his boat in the water in two years.
Santoro said the purchase has been something that’s been on his mind for the past few years. He met with Larsen last December, and asked if he was interested in selling. The two struck a deal, and signed off on it Thursday.
“[Larsen] was on my same wavelength,” Santoro said. “We’ve had a great relationship over the years. It couldn’t have gone smoother.”
Santoro will lease the premises in conjunction with the business purchase, but Larsen will retain title to the property, Larsen said. Longtime customers and newcomers alike don’t have to worry, Santoro said, it’ll be business as usual, as Larsen and his wife Beth will stay as employees.
“I’d be foolish to come in here and change it. The only difference is they will have bigger smiles on their faces, and be able to take more time off,” he said of the Larsens.
Down the road, Santoro may bring in some new technology, such as an app that lets people order ahead of time, but that’s still very much in the works.
“Everything will be the same quality,” Santoro said. “People that know me know I am all about quality and service at my restaurants, and I’ll continue to bring that same quality to the Net Result … I’m happy to add the Net Result to my family.”
Santoro said cod and halibut are his favorite seafoods. “I think I’ll be eating a lot more these days,” he said.
Updated to include comments from Santoro and to clarify business deal. – Ed.