Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
The second generation of the Truelson family is ascending at the Calhoun Village parcel formerly occupied by Nora’s restaurant. Nora’s was closed in December, to make way for Tryg’s, an “upscale casual” restaurant that Tryg Truelson says will open in September.
Nora is the mother, Tryg the son, but there was no family feud when deciding to hand down the restaurant’s namesake. “No, not at all,” Tryg Truelson says. “It wasn’t even my idea. It was the marketing people’s idea and my mother’s.”
Nora’s was open for 17 years but was losing popularity as the Minneapolis neighborhood near Lake Calhoun went more upscale. The new idea “fits the community well. We’re building a fully realized concept that will take in sufficient revenue that will support the property,” Truelson says. Shea, a Minneapolis architecture and design firm, is handling the project.
“The community changed a lot. It was hard to grow the business. It was hard to get the demographic we were looking for, younger people.” Was it difficult to close an institution? “From a business standpoint it wasn’t at all. Otherwise we’ve forged a lot of relationships with people over the years, regular customers and employees, so that part was hard.”
They’re talking with chefs now for the 7,000-square-foot space, someone to do classic American cuisine.
Tryg Truelson, Tryg’s: 612.810.5428
