PROVIDENCE – A Newport-based restaurant group will add one of the state’s preeminent hot wiener establishments to its portfolio.
Heritage Restaurant Group on Tuesday announced it will acquire Olneyville New York System Inc. from the Stevens family, which has owned the restaurant for close to a century. Terms of the sale were not disclosed and the respective businesses say the sale is pending “satisfaction of customary closing conditions.”
The sale represents a “new chapter” Olneyville New York System’s storied history within the Ocean State. It has long been regarded as offering the best hot wieners in the area and is a James Beard award-winning establishment.
The sale includes both the Providence and Cranston locations, both Heritage and Olneyville New York System said. Current owners Greg Stevens and Stephanie Stevens Turini will stay on board to help transition the ownership to Heritage.
Greg Stevens in a statement said his family approached Heritage on taking over Olneyville New York System because his family is “confident” the restaurant group would “uphold the family values and traditions” that made the restaurant a “beloved dining destination.”
“We are thrilled that the Schorsch family will continue our legacy for generations to come,” Stevens said.
Additionally, Heritage intends on retaining all employees and culinary offerings upon becoming Olneyville New York System’s new owner, the businesses say.
Heritage continues growing its portfolio by adding Olneyville New York System to its group. Other Newport-based restaurants in Heritage’s portfolio include La Forge Casino Restaurant, The Red Parrot and The Brick Alley Pub – which Heritage
acquired last April.
“We are excited to add Olneyville New York System Restaurant to our portfolio of wonderful, storied institutions that make up Heritage Restaurant Group,” Heritage spokesperson Michael Anderson said in a statement. “With the acquisition of both the Providence and Cranston locations, we are looking forward to building upon the success of this renowned establishment.”
The sale is also an end of an era for the Stevens family in owning Olneyville New York System. According to the restaurant’s website, Nicholas Stevens and his father, Anthony, emigrated to the U.S. from Greece in the 1920s. In the late 1930s, the family moved to Rhode Island and opened their first hot wiener restaurant at 8 Olneyville Square.
The current Olneyville New York System Providence location near 20 Plainfield St. opened in 1953, with the Cranston location opening 28 years later.
Last February, Olneyville New York System
put its 1954 neon sign up for auction and
raised $27,092 in support of the Rhode Island Community Food Bank.
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on X at @James_Bessette.
