TOLEDO, OH (WTOL) - The legendary Toledo restaurant Tony Packo's chain tonight is no longer owned by the family that founded it in 1932. But the Tony Packo family will still be involved with the new owner in daily operations.
Lucas County Common Pleas Court Judge Gene Zmuda selected the five and a half million dollar bid of TP Foods, which is owned Bob Bennett.
Bennet also owns 26 area Burger King restaurants.
This situation started out as a family feud between Tony Packo, Jr. and his son Tony Packo III and their cousin, Robin Horvath. Both sides owned equal shares of the business and conflict over money and management forced the business into receivership.
Three offers were made to purchase the business outright, one from the Packos, one by Horvath and one by TP foods.
Before today's hearing, the Packos withdrew their competing offer for the chain and threw their support behind Bennet.
They'll now be involved in running the company.
"We haven't worked out all the details yet. Keep it almost as it is right now as far as who runs the organization and I'll add my expertise and knowledge to their vast amount of knowledge to the Packo business," said Bob Bennett, TP Foods owner.
