Silver Diner secures investment, plots ‘aggressive expansion’ in region and beyond

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September 20, 2016
Bob Giaimo, president and CEO of Silver Diner, left, and Ype Von Hengst, its executive chef and chief operating officer.

Silver Diner just hit the accelerator.

The Rockville-based restaurant brand has announced its plan of attack for an “aggressive expansion” — and, with a strategic investment from New York-based private equity firm Goode Partners LLC, is kicking it into high gear.

Both sides declined to reveal the amount of the investment, according to Bethesda Magazine, which first reported the news.

The financial backing from Goode Partners, and the firm’s experience in the restaurant industry, will help speed growth and provide job opportunities as the company expands, according to an announcement.

With this support, Silver Diner plans to open two to three Greater Washington restaurants each year, and to break into other markets, a company spokeswoman said in an email.

Silver Diner currently runs 15 locations in Maryland, Virginia and New Jersey, as well as its more upscale Silver concept and Silver Diner Airport.

Co-founders Bob Giaimo and Ype Von Hengst opened a new Silver Diner location in Frederick this summer, and they’re planning another for Maryland that will open sometime next year, according to a spokeswoman. Meanwhile, their Laurel location closed in April when the lease expired after 25 years at the site and “from an economic standpoint, it didn’t make sense to renew,” a Silver Diner spokeswoman had said.

After introducing Silver in Bethesda last year— following redesigns, focus groups and $4 million in buildout costs — the team has signed a contract to open a second Silver restaurant at Cathedral Commons, which is slated for a May 2017 opening.

The company is also looking for another Silver Diner Airport location in the metro area. Its only existing location of this concept lives in BWI/Marshall Airport.

Silver Diner was first founded in 1989 and, with its Silver spinoff, has adopted a farm-to-table model with local, healthier menu options.

Silver Diner could not immediately be reached for comment. We will update this post when we hear back.