Owner of popular metro Atlanta fine dining restaurants announces retirement, sale of businesses

SANDY SPRINGS, Ga. — UPDATE: The owner announced new owners on Thursday.

ORIGINAL STORY 4/24

The owner of three popular metro Atlanta fine dining restaurants announced plans to retire and sell the restaurants Wednesday.

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Ray Schoenbaum, founder of Ray’s on the River, Ray’s in the City and Ray’s at Killer Creek, announced that he has signed an agreement to sell all three restaurants to TEI hospitality.

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“(TEI Hospitality is) a 100% family-owned restaurant and hospitality company based out of Kennesaw, GA. More information will be shared with the public when the deal closes in the near future,” a spokesperson said in a statement.

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Until the sale is finalized, Schoenbaum won’t provide further comment, according to his spokesperson.

Ray’s on the River, the restaurant’s original local, is along a picturesque stretch of the Chattahoochee River and is a favorite for special occasions and prom dinners. It opened in 1984. The other restaurants followed in downtown Atlanta and Alpharetta.

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