It’s officially the end of an era for beloved local gelato purveyor, Bella Gelateria, because all three of its Vancouver locations were sold in a bidding war that wrapped up last week.
We first got word that Vancouver’s three Bella Gelateria locations were abruptly put up for sale in August.
A source who works for Pacific M&A Business Brokers Ltd told Daily Hive on the condition of anonymity that the Coal Harbour, Yaletown, and Olympic Village locations were all sold to different owners.
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This marks the end of the award-winning world-renowned trio of cafes, at least as we knew them under the leadership of Gelato maestro and former face of the company, James Coleridge, who was a previous 50% shareholder in the company until his ex-wife and then-director of Bella Gelateria, Anna Coleridge, decided to sell the company and all of its assets.
Bidding for the properties ended at 5 pm on August 28 – we’ve learned the Yaletown location (1089 Marinaside Crescent) was sold to Emil Malak, owner of Vancouver’s Bellagio Cafes, while the Coal Harbour spot at 1001 West Cordova Street and all of Bella’s operating assets were scooped up by Feng Wang.
The third Olympic Village location (Unit D01001A in False Creek Village), was purchased by Federico Fuoco, owner of Federico’s Supper Club on Commercial Drive.
Only one of the three sales has been officially completed as of today, Daily Hive was told. The Coal Harbour location and asset sale should close later this week, while the Olympic Village sale is still being processed.