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From restaurants shutting their doors and others opening for the first time, to mergers and acquisitions that made the news, WTOP has a roundup of the biggest D.C.-area business stories of the year.
Restaurant woes
The Restaurant Association of Metropolitan Washington released a survey of D.C.-area restaurants that painted a bleak picture for the future, with restaurants citing inflation, lower customer traffic, labor shortages and crime.
And many restaurants closed in 2023, including Adams Morgan mainstay Roofers Union, Navy Yard’s highly anticipated but short-lived Swingers, and Denizens Brewing, which closed its original Downtown Silver Spring taproom and now focuses on its larger Riverdale Park location.
Two longtime D.C. restaurateurs permanently closed their last two remaining restaurants, Brine Oyster and Seafood House, citing crime and unsustainable costs. Award-winning chef Kevin Tien closed his popular Moon Rabbit restaurant at The Wharf in a dispute with its InterContinental Hotel landlord, though a new location is opening in Penn Quarter.
And two longtime D.C. establishments with loyal customers closed for good this year, Amsterdam Falafelshop in Adams Morgan, and Silver Spring’s Tastee Diner.
Restaurant wins
Several restaurateurs forged ahead with openings of flashy, new restaurants, and several area restaurants received national recognition in publications like Bon Appétit, Food & Wine and Southern Living.
Both new and familiar names were honored with 2022 RAMMY Awards, several area craft brewers took home medals from the prestigious World Beer Cup competition, 18 D.C. restaurants were added to the Michelin Guideand two others earned Michelin Stars.
D.C. steakhouse Medium Rare began a nationwide expansion, District Taco began franchising nationwide and Raising Cane’s began an aggressive expansion in the D.C. region.
Mergers and acquisitions
Tysons-based events planning company CVENT was acquired by New York investment firm Blackstone for $4.6 billion. McLean-based candy giant Mars further cemented its position as a leader in pet care with its $1.3 billion acquisition of veterinary diagnostic company Heska. Mars also acquired healthy meals company Kevin’s Natural Foods for $800 million.
