B. Hospitality Co.

What B. Hospitality Co. does

B. Hospitality Co. is a privately-held, Chicago-based multi-concept restaurant group founded in September 2008 by John Ross and Phillip Walters as B. Hospitality Co. LLC (Illinois). The group currently operates three restaurant concepts concentrated in Chicago's West Loop and Fulton Market District: Formento's, an Italian-heritage fine-dining restaurant honoring founder John Ross's grandmother Lucielle Formento with a 600+ varietal wine program; Nonna's, a made-to-order Italian sandwich, pastry, and retail shop operated out of Formento's kitchen at 925 W. Randolph; and Swift & Sons, an American steakhouse at 1000 W. Fulton Market designed by AvroKO and co-developed with Boka Restaurant Group. Earlier concepts (The Bristol, Balena, Cold Storage) are no longer part of the active portfolio.

Revenue is generated through dine-in food and beverage sales, takeout/to-go orders (facilitated by the Toast Tab platform and dedicated restaurant websites), gift card sales to both individuals and corporate buyers, and private events and catering with capacity ranging from intimate dinners for six to events of 200+ guests across the three concepts. Customer acquisition is anchored in earned media (Chicago Tribune three-star review, GQ, Esquire, Zagat recognition, Restaurant Hospitality RH 25 inclusion) and a loyalty/rewards program powered by MyGuestAccount, with reservations and private-event bookings routed through OpenTable. The operating model is asset-light in technology, relying on third-party SaaS for ordering, reservations, and loyalty rather than proprietary platforms.

The business serves Chicago diners seeking heritage-driven Italian cuisine, premium steakhouse experiences, and casual made-to-order sandwiches, supplemented by corporate and individual gift purchases and event hosting. Ownership is concentrated in the two founders; no external institutional investment, PE, or VC funding is disclosed, and no revenue, headcount, or financial figures have been publicly released.

Name

B. Hospitality Co.

Legal name

B. Hospitality Co. LLC

Website

https://bhospitalityco.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago, IL

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant Dining: Full-service dine-in experiences at three restaurant concepts: Formento's (Italian), Nonna's (sandwich shop), and Swift & Sons (American steakhouse). Revenue generated from food, beverages, and wine sales.
2. Takeout and To-Go Orders: Online ordering through Toast Tab platform and restaurant-specific websites for pickup orders.
3. Gift Cards: Both individual and corporate gift card programs available across all B. Hospitality Co. restaurants.
4. Private Events and Catering: Private event spaces at Formento's accommodate 20-200 guests; Nonna's offers catering with sandwiches, subs, salads and desserts; Swift & Sons features multiple private dining rooms and event spaces.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

B. Hospitality Co. is a multi-concept restaurant group operating three physical restaurant locations in Chicago's Fulton Market District and West Loop: Formento's (Italian heritage restaurant with 600+ wine varietals), Nonna's (Italian sandwich and retail shop), and Swift & Sons (American steakhouse). The company sells dine-in restaurant experiences, takeout/to-go orders, private event space rental and catering, and gift cards, operating as a direct-to-consumer hospitality business founded on traditional Italian family recipes.

Product overview

B. Hospitality Co. is a hospitality-driven restaurant group based in Chicago, IL, founded by partners John Ross and Phillip Walters. The company operates a portfolio of restaurant concepts including Formento's (Italian-heritage restaurant), Nonna's (Italian sandwich and retail shop), and Swift & Sons (American steakhouse). These restaurants are offered alongside supplementary services including a loyalty/rewards program, gift cards, private events catering, and online ordering for to-go. The group previously operated The Bristol (founding restaurant, September 2008), Balena (opened March 2012), and Cold Storage (opened winter 2015, closed permanently).

Differentiator

Problem solved

Functional benefit

Products and services

• Formento's Italian-heritage restaurant in Chicago's West Loop/Fulton Market District offering traditional family recipes alongside new-age dishes by Executive Chef David Schwartz, with a world-class wine menu featuring more than 600 varietals from around the world. Located at 925 W. Randolph Street.
• Nonna's Italian sandwich and retail shop located next door to Formento's in Chicago's West Loop at 925 W. Randolph Street. Offers made-to-order sandwiches, homemade pastries, desserts, and catering services; kitchen is operated out of sister-restaurant Formento's.
• Swift & Sons American steakhouse at 1000 W. Fulton Market in Chicago's Fulton Market District, created in partnership with Boka Restaurant Group. Features an oyster bar, tavern spaces, elevated main dining room, and private dining rooms with an adjacent private bar, designed by world-renowned firm AvroKO with inspiration from 19th-century cattle-trade pioneer Gustavus Franklin Swift.
• Private Events & Catering Private event and dining services offered across all B. Hospitality Co. restaurants. Formento's accommodates 20-200 guests with a private bar and sound system; Nonna's hosts intimate dinners for six or fewer; Swift & Sons features a multi-level floor plan with oyster bar, tavern spaces, and private dining rooms. Catering from Nonna's includes sandwiches, subs, salads, and desserts.
• Gift Cards Gift card program available across all B. Hospitality Co. restaurants for both individual purchase and corporate gift card programs used for employee or client rewards.
• Guest Loyalty Program Guest rewards and loyalty program (My Guest Account) allowing diners to earn points and access rewards across B. Hospitality Co. restaurants, with email communications to drive repeat visits.
• To-Go Ordering Online ordering and takeout service for Formento's and Nonna's, enabling customers to place orders for pickup through the Toast Tab-integrated ordering platform and the restaurants' websites.

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Four partnerships are on record, tiered core.

• Boka Restaurant Group (BRG)coreStrategic or Co-development PartnerB. Hospitality Co. has partnered with Boka Restaurant Group on multiple restaurant concepts including Balena (opened March 2012) and Swift & Sons (opened winter 2015). The Boka Restaurant Group team collaborated with Executive Chef Chris Pandel and B. Hospitality Co. to create Swift & Sons, an American steakhouse in Fulton Market District.
• AvroKOcoreStrategic or Co-development PartnerWorld-renowned design firm AvroKO designed the Swift & Sons restaurant space, creating a classic Chicago steakhouse aesthetic updated with modern finishes. The design takes inspiration from Gustavus Franklin Swift, re-imagining a fictitious company headquarters in a retro-future style.
• John Ross Inc.coreOthersJohn Ross Inc. is one of the two founding partner entities of B. Hospitality Co., led by John Ross (owner of Formento's, named after his grandmother Nonna Formento).
• Phillip Walters Inc.coreOthersPhillip Walters Inc. is one of the two founding partner entities of B. Hospitality Co., led by Phillip Walters.

Scale indicators2 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Maple & Ash: Two-star Chicago steakhouse in the Gold Coast/Fulton Market orbit. Comparable to Swift & Sons as a modern, design-forward premium steakhouse targeting celebration and business dining.
• Gibsons Restaurant Group: Chicago steakhouse operator (Gibsons Bar & Steakhouse, Hugo's Frog Bar & Fish House, LUXBAR). Direct competitor to Swift & Sons in the premium steakhouse segment with overlapping private events business.
• Boka Restaurant Group: Chicago-based multi-concept restaurant group (Boka, Momotaro, Swift & Sons partnership, Girl & the Goat). Direct peer because it is both an operating partner of B. Hospitality Co. and a competing multi-concept group in the same Chicago premium segment.
• Lettuce Entertain You Enterprises: Large Chicago-rooted multi-concept hospitality group (RPM Steak, Beatrix, Gibsons, etc.). Comparable because it operates multiple full-service concepts in premium Chicago locations and has scaled nationally with private events and gift card programs.
• Rosebud Restaurant Group: Chicago Italian-focused multi-concept operator (Rosebud, Carmine's, Rosebud Trattoria). Comparable to Formento's for Italian heritage cuisine and casual Italian formats like Nonna's.
• One Off Hospitality Group: Chicago hospitality group (Blackbird, Avec, The Violet Hour, Publican). Comparable multi-concept operator serving premium full-service dining with strong press profile and event business in the same market.
• Chicago Cut Steakhouse: Independent downtown Chicago steakhouse with strong private events business and loyalty clientele. Comparable to Swift & Sons as a competing premium Chicago steakhouse.
• The Alinea Group: Chicago fine-dining group behind Alinea, Next, and Aviary. Comparable as a multi-concept Chicago hospitality brand operating at the top end of fine dining, with international press recognition and event-driven revenue.

Regional players

• Hawksmoor NYC: U.S./UK steakhouse operator with comparable premium positioning, signature wine/beverage program, and design-led restaurant aesthetic. Comparable to Swift & Sons in operating model even though geography differs.

Emerging players

• Land and Sea Dept. Chicago restaurant group (Longman & Eagle, Publican Anker, Big Star). Comparable emerging multi-concept operator in the same city with similar casual-to-mid-premium positioning and neighborhood focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Customer concentration

• Facebookfacebook.com/FormentosChicago
• Instagraminstagram.com/FormentosChi
• LinkedInlinkedin.com/company/b-hospitality-co-

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about B. Hospitality Co.