How Danny Meyer Is Going Global

Danny Meyer’s burgers and shakes are poised to go global. The restaurateur who created Shake Shack has agreed to sell part of his company to Related, the New York real estate developer behind Manhattan’s Time Warner Center in Columbus Circle. For Related, the deal captures a marquee name in the restaurant world to enhance the cachet and foot traffic of its varied office, entertainment, and retail holdings. For Meyer, it provides a way to take brands such as Shake Shack and barbecue chain Blue Smoke into stadiums, parks, and other properties around the world. “The senior leaders at Related have abundant hospitality experience, so they speak our language,” says Meyer. “With them we can be more strategic in scaling our business.”

Related is buying a partnership stake in Union Square Events, the catering, sports, and entertainment unit of Meyer’s culinary empire. Events operates concessions at ballparks including Citi Field, home of the New York Mets, and caters events for the Central Park Zoo, Goldman Sachs, and the Whitney Museum of American Art. Meyer, 53, made his name with elegant New York City restaurants such as Union Square Cafe, Gramercy Tavern, and Eleven Madison Park. Stephen M. Ross, Related’s founder and chief executive officer, says he anticipates the first major project with Meyer will be Hudson Yards, the 26-acre development on Manhattan’s West Side that Related calls the biggest undertaking by a single developer in New York City since Rockefeller Center. “We can collaboratively grow across numerous opportunities,” says Ross.