Creeky Tiki Bar & Island Grill in San Luis Obispo is under new ownership.
Local restaurant and bar owner Bill Hales said he and six other local businesspeople formed a corporation, Creeky Corp., to buy the bar and grill.
Hales, who declined to disclose the purchase price, said the transaction closed May 1. The restaurant employs about 20 to 25 people, all of whom will be able to keep their jobs, he said.
The business is doing well, and we do not plan on changing anything, Hales said. They (the previous owners) were doing a great job.
Local businessman Brett Butterfield and two of his partners approached Hales about a year ago with the idea of selling, Hales said. The timing wasnt right then, but talks started up again toward the end of last fall, and after that, it took a few months to come together, Hales said.
Butterfield owns the expanding Ravine Waterpark in Paso Robles and wants to focus more time and energy on it, Hales said.
Before the purchase of Creeky Tiki, Hales and a group of business partners already owned five bars and restaurants in downtown San Luis Obispo: MoTav, Frog & Peach Pub, Bulls Tavern, The Library and McCarthys Irish Pub.
We understand the dynamic of downtown, said Hales, who also owns ASH Management, a separate San Luis Obispo consulting firm that does not own any of the bars or restaurants. Its what we do for a living.