Wason Associates Negotiates the Sale of the Muddy Rudder Restaurant in Yarmouth, Maine

Posted on June 28th, 2011 by Earle Wason

One of the most highly visible restaurants on the coast of Maine, the Muddy Rudder, was transferred on May 16, 2011 to Granite Hospitality LLC. The transaction was negotiated by Wason Associates, the seller was the Chafee Restaurant Corporation, a subsidiary of the Maine Course Hospitality Group, based in Freeport Maine.

Located on the Cousin’s River, the “Rudder,” as the locals call it, has been serving visitors since 1976. It was renovated in 2008 to allow for over 200 seats and a more modern and comfortable dining experience. The contemporary design also maintains the impeccable natural landscape and wildlife preserve surrounding the restaurant to provide its guests with the total dining experience.

The Muddy Rudder re-opened under new management on May 25, 2011, revealing a new menu specializing in steak and fresh seafood. The new owners, Jeff Miller and Matt Witham, have been working together in the restaurant business since high school. Mr. Miller manages the kitchen operations and Mr. Witham handles the front of the house, including customer service, liquor preparations, and overall operations. The Muddy Rudder is located on Rt. 1 and Rt. 295 and is only minutes away from L.L Bean and just 15 minutes from Portland Maine

“Jeff and Matt are a team destined for success,” states Earle Wason, President of Wason Associates. “We’re glad we had the opportunity to bring such seasoned restaurant operators to one of Maine’s Landmark properties and also help the Chafee Restaurant Corporation secure a smooth transition.”

About Wason Associates

Wason Associates Hospitality Real Estate Brokerage Group is a highly-respected New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President Earle Wason, CCIM has over 25 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution. For more information on Wason Associates, visit hospitalityrealestate.com.

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Wason Associates
One New Hampshire Ave, Suite 125
Portsmouth, NH 03801
Phone: 603.766.4982
www.hospitalityrealestate.com
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