Nick Kokonas explained in a social media post that he wants to focus on new projects, away from the restaurant world. The Alinea co-founder is giving up his stake in the eponymous group and changing everything: he will remain only as a “passive” investor.
The news
One of the most influential restaurateurs of recent decades has decided to relinquish the helm. Nick Kokonas, co-founder of Chicago's renowned Alinea restaurant has sold his stake in the prestigious Alinea Group. The news, reported by Eater Chicago, marks a significant turning point for the group that operates some of the most acclaimed restaurants on the American food and wine scene. Kokonas will retain a small minority stake only in the Alinea restaurant as a “passive investor,” leaving overall management to a handful of investors led by impenditore Jason Weingarten, who thus becomes the current owner.
Kokonas, who has changed the rules of the game in high-end dining with revolutionary ideas and a maverick approach, explained in a social media post that he wants to focus on new projects away from the restaurant world. “I spent years looking for someone to buy my shares and those of Steve Bernacki,” he recounted in an interview, adding that his desire is to allow the group to expand without being a hindrance. Alinea Group, founded in 2005 by Kokonas together with chef Grant Achatz, has won numerous awards, including the coveted three Michelin stars for Alinea in 2010, an honor the restaurant has maintained ever since. The group also includes the Michelin-starred restaurant Next, cocktail bar The Aviary, casual restaurant Roister, and St. Clair Supper Club, each with a unique identity and loyal clientele.
Kokonas has not only been a skilled entrepreneur in the restaurant business, but also an innovator who has changed the way people experience dining. In 2014, he launched the reservation platform Tock, which revolutionized the high-end restaurant reservation industry. And during the pandemic, together with Achatz, he was among the first to transform the fine dining experience into a successful takeout model becoming an example for many struggling restaurants. Now, with Weingarten at the helm, the question is: How will the group evolve without Kokonas' visionary leadership? Weingarten, who came from the start-up world and founded the meal delivery service Entrée, has already taken his first steps in the restaurant business with the opening of Oliver's restaurant in Chicago. Expectations are high, but only time will tell if the new chapter of the Alinea Group can maintain the same level of excellence.
Although Kokonas is retiring in part from the restaurant business, his contributions will remain indelible. After selling Tock to Squarespace and then to American Express for $400 million, his future looks promising, albeit far from the restaurant spotlight. Wine production with his wife in Napa Valley and new projects to reinvigorate the family business are already in the works, but Chicago will continue to be his home base, as he said in an interview. After two decades at the top of the culinary world, Kokonas' near-final exit may mark the end of an era, but certainly not that of his entrepreneurial creativity.
