Kevin Floyd and Bobby Heugel, two of the leading players in Houston's restaurant and bar scene, announced that they have amicably exchanged partnership interests in restaurants they have founded together.
The full transference of Floyd's interests in Anvil Bar & Refuge, The Pastry War and The Nightingale Room has gone to Heugel, while all of Heugel's interests in Underbelly, Hay Merchant and Blacksmith have fully transferred to Floyd. Both men continue to own minority shares in Julep and along with three other partners, they still have equal stakes in the property at 1018 Westheimer, where Blacksmith operates.
This marks the completion of a transition that Floyd and Heugel began more than two years ago "to move in different directions with their careers while ensuring the stability and success of all the concepts they have worked together on for their staff, investors, and dedicated regulars," according to the announcement.
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Floyd and Heugel issued a joint statement that said:
“With the exception of a couple of years following our time together in undergraduate school, we have literally had a job together since 1999, when we worked at Brook Mays Piano Store on 59 and Buffalo Speedway, when we were 13 and 14 years old. We had our first restaurant job together. We opened our first business together. And we literally grew up together. As a team, we were able to accomplish feats that very few our age have, and we know that this was a result of our complimentary skillsets and longstanding friendship. In recent years, however, we reached a point where we needed each other less and less and had different views and goals for our individual futures. This partnership transition allows each of us to pursue those goals and projects with more freedom and less demands on each other. We are both very proud of what we have been able to accomplish together in each of our concepts, and we will continue to champion those places as ongoing owners or former partners because of how important they were in our lives and because of what we feel they mean to our wonderful city. We wish each other and the staff members in the businesses we are each departing nothing but the best as we move forward with this amicable and mutually beneficial decision.”
Both have exciting new projects in the near future, as Floyd, who teamed up with Chris Shepherd (and other partners) to open One-Fifth and Heugel, is opening a still-unnamed restaurant with Justin Yu and others.