A philanthropist in the West Wight is the new owner of Salty’s Bar and Restaurant Limited in Yarmouth.
Ed Panek, who has been a resident in the West Wight for nearly two decades and is recently retired from his successful financial services career in London, along with his family, has purchased Salty’s as a local long-term investment.
Panek: “Salty’s is an institution”
“Salty’s is an ‘institution’.
“What started as a sail loft, became a fish shop, and is now one of the most successful businesses in Yarmouth and the South Coast.
“It has been attracting local residents and visiting families for over 25 years, and it is a destination venue for yachting enthusiasts from all over the UK and abroad.”
“We like Salty’s so much, we decided to buy it. It is a great opportunity to invest in the local community, local people, and our beloved Yarmouth.”
Supporting not-for-profit ventures
The Panek family will now devote most of their time to philanthropy and supporting various not-for-profit ventures. The Paneks will be donating a percentage of Salty’s annual profits to charities specifically targeted in and around Yarmouth.
They are teaming up with United Way, the largest privately funded charity in the world, who have a deep expertise in “giving local”.
Doubling the impact
Salty’s charitable contributions will be focused in the following three pillars; Education, Income Stability and Health: the building blocks for a good quality of life.
The Panek family intend to personally match the profits donated by Salty’s, in order to double the impact.
Jenny Smith Grieve, of Bouldnor, Isle of Wight, who is the Business Manager for the family office, overseeing the family’s personal investments said,
“Our mission will be to employ local people, including apprentices.”
Jenny has been working with the Paneks on the Isle of Wight for 18 years.
She went on to say,
“We will also give priority to locally sourced, fresh products, and local environmentally friendly, sustainable suppliers and their products, from the Isle of Wight and the South Coast.”
Investing “to keep the Yarmouth ‘high street’ alive”
“We love Yarmouth. It is a delightful historic, seaside town, with a charming village atmosphere and warm community, free from ‘chain’ stores/restaurants.
“We are committed to investing to keep the Yarmouth ‘high street’ alive, which shall in turn benefit local people, helping them to thrive. As we grow our business, we want Yarmouth and the Isle of Wight to benefit as well.”
Salty’s will re-open on Friday 20th March for the season, as usual, ahead of the Mothering Sunday weekend.
Graham and Nicky — and the entire Salty’s team — look forward to welcoming back our customers to deliver the same outstanding customer service, excellent seafood, and fresh local produce as has come to be expected for over 25 years.
News shared by Melanie Panek, in her own words. Ed
Image: © Google Maps/Streetview