Family-owned high-end Greek restaurant concept Estiatorio Milos is working with advisers to find a capital partner that can support its growth ambitions, according to CEO Joey Simons.
The Montreal-based company in March engaged Moelis & Co. LLC as adviser on a process that’s in the early stages, Simons said.
“The family is thinking long term about the next chapter,” Simons said. “Bringing in the right partner sets the brand up to keep growing for the next generation of guests and staff.”
Founded in 1979 by chef Costas Spiliadis, Milos has 12 locations globally, including in New York, Florida, London, Dubai and Singapore. Its restaurants are in hotels such as Atlantis The Royal in Dubai and Marina Bay Sands in Singapore.
A majority of its locations are company-owned and operated with the rest under licensing and management agreements.
With nine additional locations confirmed for development, Milos expects to have 21 open and operating locations in the next four years, doubling the company’s existing Ebitda.
Its expansion is focused on its existing markets of North America, Europe, Asia and the Middle East.
“The business has demonstrated that our model travels successfully across different markets,” Simons said. “The next phase is about creating financial and organizational flexibility to pursue the strongest opportunities while continuing to protect the brand.”
For Milos, a capital partner could be a strategic hospitality company that views the concept as a value add to its portfolio, a private equity firm that understands the group’s values and philosophies or a family office that wants a category-defining asset, according to Simons.
“The goal is not to open as many restaurants as possible — preserving our operational excellence and the culinary philosophy that defines us is paramount,” Simons said. “Equally critical is protecting the supply chain and our relationships with our fishermen, producers and suppliers to ensure that the consistency and quality remains.”
Milos evaluates each new location against key financial metrics, including anticipated revenue, capital investment, occupancy costs, operating margins and return on invested capital, according to Simons.
The company also forms strategic partnerships with leading REITs, developers and luxury hotel groups to further strengthen the economics of individual locations through favorable real estate structures, shared infrastructure and reduced upfront capital requirements, he added.
“Additional capital would allow us to selectively pursue high-potential markets while maintaining the financial discipline and operational standards that underpin the Milos business,” Simons said.
Estiatorio Milos sources directly from fishermen, olive oil makers and honey and produce suppliers across the globe. It has exclusive relationships with these suppliers and has sourced from them for decades.
For instance, the company sources its fish from fisherman in Portugal and Greece, who box and ship their hauls overnight to all 12 of Milos’ locations every few days.
Similarly, the company sources so much olive oil from its preferred supplier that his entire harvest is allocated to Milos.
“Our supply chain is vertically integrated and nobody else has access to the generational relationships we have built,” Simons said.
As consumers, especially younger generations, seek authentic, simple and healthy food with fresh ingredients, the Mediterranean diet and Greek cuisine are becoming more popular.
At Estiatorio Milos, the kitchens don’t use butter, and the prep team cuts vegetables and prepares all food as orders come in without any prep ahead of time.
Consumer willingness to spend on better dining experiences has also been a boost to the fine dining industry.
“Milos’ approach is timeless with exceptional ingredients, simplicity in preparation and uncompromising commitment to quality,” Simons said. “If you stay authentic to who you are, you’ll be able to build a foundation for guests to come back for decades and decades to come.”
Editor’s note: The original, full version of this article was published Oct. 23, 2026, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a demo.
Dining and Cooking