Mark Toney’s has been a Newcastle favorite since opening his first store in the Grainger Arcade in 1892. The company came into being when founder Antonio Marcantonio came to Newcastle from a small mountain village near Rome.
His great-grandson Antony Marcantonio has run the company’s ice cream parlors and cafes on Percy Street and Grainger Street since the 1960s, opening Grainger Street in 1962 and Percy Street 12 years later.
Now, however, Mr. Marcantonio wants to retire, prompting him to put the whole business up for sale, along with corporate real estate advisor, Christie & Co marketing Mark Toney & Co Limited.
The agreement includes a factory and production site and offices in the industrial area of Benton Square, fully equipped for the manufacture and storage of their full line of products.
The building is also the headquarters of the company’s wholesale arm, which serves more than 200 customers at leisure sites, retailers, restaurants and cafes.
In addition, there are the two ice cream parlors and the long standing cafes.
The business is sold in its entirety as an operating business, with staff and customers being assured that business is business as usual.
Mr. Marcantonio says his decision to sell the business in order to retire presents an opportunity for any aspiring and ambitious new owner.
He said, “I have truly enjoyed all of the life I have spent in this rewarding and challenging business, but now I look forward to a happy retirement with my grandchildren and pursuing my various hobbies.
“With the great products, goodwill and history of this company, I really feel like I am leaving it ideally placed to thrive and grow for years to come.
“I am looking for a new owner who will continue the business ethic that has made us a household name in the North East for nearly 130 years, and who will continue to care for the many loyal and long-time employees. who have played a decisive role in our success. .
“Our many loyal North East customers need to be reassured that this will continue to function as usual during the transition to a new property. “
David Cash, Associate Director of the Hospitality team at Christie & Co, takes care of the sales and adds: “Mark Toney is truly a household name in Newcastle and throughout the North East region. I am delighted to have been tasked with handling the sale on behalf of the family and feel like this represents an incredible opportunity for someone.
“I would expect the interest to come primarily from existing hospitality professionals, but I also wouldn’t be surprised to hear from those who may be looking for a career / lifestyle change.”
Mark Toney & Co is in the market with an indicative price of £ 425,000 plus shares at going concern valuation.