Governor’s Restaurant and Bakery transitioning ownership
Courtesy / Governor’s Restaurant and Bakery
Longtime Governor’s employee Jason Clay, left, is acquiring the restaurant chain from second-generation owner Randy Wadleigh.
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A seamless transition is the primary concern of both the buyer and seller of Governor’s Restaurant and Bakery, a chain of five eateries throughout Maine.
“I understand that there is a great deal of stress and anxiety involved in taking this step to ownership,” said longtime employee Jason Clay, who is buying the chain from Randy Wadleigh. “Many people depend on you to make the right decisions and lead with integrity.”
Terms of the sale were not disclosed.
Wadleigh will provide support and guidance through the transition, with Clay scheduled to take the helm at the end of May upon Wadleigh’s retirement.
“I’ll work hard to not let those people down,” Clay continued. “We’ll continue to build on what we’ve built for many years under Randy’s leadership.”
Governor’s started in 1959, when Leith and Donna Wadleigh founded the company as Cree-Mee’s Ice Cream on Stillwater Avenue in Old Town. That same year, they decided to open a restaurant. But it needed a new name.
“The Wadleighs thought and thought, but nothing seemed quite right,” according to the company's website. “Then one day, Leith realized that the perfect name had been on the tip of his tongue all along. ‘Hi ya, Governor,’ he’d say as he greeted customers every day.”
Today, the chain employs 290 people at locations in Old Town, Bangor, Waterville, Ellsworth and Lewiston. A sixth location in Presque Isle is an independently owned franchise.
As a child, Randy Wadleigh grew up in a booth eating cheeseburgers.
“Since the age of 10, I’ve worked summers until age 20 and full time ever since,” Wadleigh said. “A 40-year run is pretty good, I’d say.”
Wadleigh said he explored selling to a merger and acquisition company but thought better of it.
“Governor’s brand is iconic in the state of Maine,” Wadleigh said. “Ultimately, it was more important to me to keep the culture and Jason is ready. He’s smart, respected, educated, tech-savvy, a hard worker, great listener, and most importantly, rooted in the community.”
Clay has worked for the chain for 17 years.
“Jason gives our brand the best shot to be successful for decades to come,” Wadleigh said.
Wadleigh said he’s ready for retirement but will provide consultant services to Clay, especially over the next year or so.
Clay said he’ll maintain the brand as-is but would like to grow the company.
“That may mean opening new units, ghost kitchens, expanding our mail-order bakery, or other means,” he said. “While we have a great team in place, realistically we're a hospitality company in a state with low unemployment, so we're always looking to add to it.”
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Congratulations, Randy and Jason!
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