A philanthropist in the West Wight is the new owner of Salty’s Bar & Restaurant in Yarmouth, it has been announced.
Ed Panek, who has been a resident in the West Wight for nearly 2 decades and is recently retired from his successful financial services career in London, has purchased Salty’s as long-term investment.
Ed says:
“Salty’s is an ‘institution’. What started as a sail loft, became a fish shop, and is now one of the most successful businesses in Yarmouth and the South Coast. It has been attracting local residents and visiting families for over 25 years, and it is a destination venue for yachting enthusiasts from all over the UK and abroad.
“We like Salty’s so much, we decided to buy it. It is a great opportunity to invest in the local community, local people, and our beloved Yarmouth.”
The Panek family will now devote most of their time to philanthropy and supporting various not-for-profit ventures. The Panek’s will be donating a percentage of Salty’s annual profits to charities specifically targeted in and around Yarmouth. They are teaming up with United Way, the largest privately funded charity in the world, who have deep expertise in ‘giving local’.
Salty’s charitable contributions will be focused in the following 3 pillars, Education, Income Stability and Health: the building blocks for a good quality of life. The Panek family intend to personally match the profits donated by Salty’s, in order to double the impact.
Jenny Smith Grieve, of Bouldnor, who is the Business Manager for the family office overseeing the family’s personal investments, has said:
“Our mission will be to employ local people, including apprentices. We will also give priority to locally sourced, fresh products, and local environmentally friendly, sustainable suppliers and their products, from the Isle of Wight and the South Coast.”
Ed continues:
“We love Yarmouth. It is a delightful historic, seaside town, with a charming village atmosphere and warm community, free from ‘chain’ stores/restaurants.
“We are committed to investing to keep the Yarmouth ‘high street’ alive, which shall in turn benefit local people, helping them to thrive. As we grow our business, we want Yarmouth and the Isle of Wight to benefit as well.”
Salty’s will re-open on Friday 20th March for the season, as usual, ahead of the Mother’s Day weekend. Graham and Nicky — and the entire Salty’s team — look forward to welcoming back our customers to deliver the same outstanding customer service, excellent seafood, and fresh local produce as has come to be expected for over 25 years.
If I were he, I should check out the basement and loft for any hidden cash, as wasn’t the place used once as drug dealers cash laundering business?
Lets all have a celebration when there are no more of that family in the town – we could invite that parking warden who had that unfortunate accident after putting a ticket on a “green” car!
A meteoric rise from taxi driver to bar and property owner for salty in such a short time – lets not forget how the local residents respected the family and their actions in Yarmouth!