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Updated: October 16, 2023

Prentice Hospitality Group agrees to buy Cape Elizabeth's Good Table restaurant

Entrance to The Good Table restaurant  in Cape Elizabeth Photo / Renee Cordes The Good Table restaurant, located at 527 Ocean House Road in Cape Elizabeth, has been a local mainstay since 1986.
Six people Provided photo On the front porch of the Good Table in restaurant are, from left, Alexander Wolf, vice president of the Prentice Hospitality Group; Casey Prentice; Lisa Kostopoulos; Jessica Kostopoulos; Tony Kostopoulos; and chef Matt Ginn.

Prentice Hospitality Group has agreed to buy Cape Elizbeth’s Good Table restaurant from the original family owners, and plans to put the kitchen under the direction of chef Matt Ginn of Portland’s Evo Kitchen + Bar, the Chebeague Island Inn and the 58 Culinary catering company.

The Portland-based buyer owns all of those businesses, along with House Island on Casco Bay and Twelve Restaurant in the Portland Foreside neighborhood that Prentice is developing. 

Casey prentice
File photo / Tim Greenway
Casey Prentice is a Mainebiz 40 Under 40 honoree in 2023.

“Matt and I have been looking to expand outside of Portland for some time,” Casey Prentice, CEO and managing partner of the Prentice Organization and the Foreside Development Co., told Mainebiz.

“The current owners are fans of Matt’s and of our group and were excited that we were interested. Matt being from Cape and living there now makes this that much more of a natural expansion for us. The community nature is something that is particularly appealing about this opportunity.”

Terms of the deal were not disclosed.

The Boulos Company’s Jon Rizzo, Greg Boulos, and Sasha Phillips represented the seller on the transaction, while the buyer did not enlist a broker.

The Good Table, opened in 1986 by Tony and Lisa Kostopoulos, is a farm-to-table style eatery known for its hearty breakfasts with oversized cinnamon buns, comfort-food dinners and seasonal fruit pies.

In 2001, the restaurant burned down and, with community support, was rebuilt and reopened within seven months.

“We have had the time of our lives here at the Good Table,” Lisa Kostopoulos said in a Sunday news release. She noted that while the decision to sell didn’t come easily, knowing that the new owner “will honor our legacy and build upon it made the transition so much easier. 

“We are thrilled that local folks will be serving our beautiful friends and neighbors for years to come,” she added. “They are inheriting the best customers anyone could ever hope for. All good things to come for Matt, Casey and the rest of the crew. We can’t wait to come and sit at your table.”

Planned February reopening 

The buyer has promised to be the new steward of a cherished local establishment that has been closed for a few months during the transition.

“The interior and the menu will both get a refresh but we’re excited to keep the focus as a family-friendly neighborhood restaurant,” Prentice told Mainebiz. “We’re targeting a reopening around February.” 

Kathleen Pierce, director of membership and communications for HospitalityMaine, welcomed news of the ownership change. 

“It is heartening to see a local family with deep roots in hospitality invest in this local gem,” she told Mainebiz.” The passing of the torch means the Good Table is in a good position to continue to attract locals and tourists alike for years to come. I hope they keep the carrot cake recipe." 

A spokeswoman for Prentice Hospitality Group said the company is still determining how many employees will be needed at the start.

Prentice is a Mainebiz NextUp: 40 Under 40 honoree for 2023. In his award profile, Prentice said his audacious goal is "to build a world-renowned hospitality school in Portland that seeks to educate and train hospitality workers with an emphasis on how hospitality training relates to a multitude of industries."

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