Urban Outfitters Just Acquired… A Restaurant Ahead Of Its Q3 Print?

Urban Outfitters, the specialty fashion and lifestyle retailer that owns and operates the Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands, announced on Monday it has entered into an acquired to acquire The Vetri Family group of restaurants. The Vetri Family group is run by

who won the James Beard Award for "Best Chef: Mid-Atlantic) in 2005. He was also named one of Food & Wine magazine's "Ten Best New Chefs," and was the recipient of other awards and recognition. Urban Outfitters' CEO Richard Hayne justified the retailer's move into the dining space, noting in a

that "spending on casual dining is expanding rapidly." The executive added that there is "tremendous opportunity" to expand the chain of restaurants, particularly the

concept that offers consumers personalized pizza choices in its custom-made, wood fired oven. The Vetri Family group of restaurants, like Urban Outfitters, traces its roots to Philadelphia. "It's a perfect match," Chef Marc Vetri also said in the press release. "Urban Outfitters and the Vetri Family share the same singular goal, we pride ourselves on bringing the best possible experience to our customers and community. Through this partnership, and the experience URBN has in scaling growth opportunities, the Vetri Family will now be able to focus on what we do best – run restaurants that make people happy." Financial terms were not disclosed by Urban Outfitters, likely indicating that the company doesn't expect results from the acquisition to be material to its operations.

Urban Outfitters' acquisition of The Vetri Family group of restaurants isn't its first foray into the restaurant segment. The company introduced UO Café in its New York City's shop back in June. According to