springfield4
Beach Lover
Did anyone hear of the outcome of the Roebucks Auction for the Toucans in Mexico Beach?
Thanks.
Thanks.
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Toucan's Auction
- Thread starter springfield4
- Start date
SHELLY
SoWal Insider
At noon Thursday, toucan's restaurant went on the auction block.
And in less than 10 minutes sold for a little over $3.7 million dollars.
Robert Barrow, a St. Louis farmer was the winning bidder.
"I wanted all my life to get back down here and I think I just did," Barrow said.
Toucan's is a very popular restaurant in Mexico Beach and the winning bidder says he plans on keeping it that way.
"I mean its an icon in the community," Barrow said.
Toucan's current owner, Paul Francis is facing prison time for tax evasion , drug, and gun charges.
His restaurant was raided back in September by federal, state, and local authorities. He was indicted a short time later.
As part of his plea deal, Francis has agreed to pay more than two million dollars in corporate and personal income taxes he failed to pay in recent years.
Roebuck auctions out of Destin had the duty of selling the restaurant..
"I think the auction went great. We anticipate that he will close quick and take advantage of spring break and the upcoming season," Jeff Jourdan, of Roebuck Auctions said.
Carol Tendler owns "The Grove" in Mexico beach and she hopes Thursday's auction will bring a more positive image to the city.
"Cause Toucan's is an anchor for our area. We are only a 3 and and half miles long and we just embrace someone coming in and opening up a great restaurant," Tendler said.
Under Francis, the restaurant has brought in over three-million dollars each year over the past few years.
<Wonder how much it bought in ex-drugs?>
And in less than 10 minutes sold for a little over $3.7 million dollars.
Robert Barrow, a St. Louis farmer was the winning bidder.
"I wanted all my life to get back down here and I think I just did," Barrow said.
Toucan's is a very popular restaurant in Mexico Beach and the winning bidder says he plans on keeping it that way.
"I mean its an icon in the community," Barrow said.
Toucan's current owner, Paul Francis is facing prison time for tax evasion , drug, and gun charges.
His restaurant was raided back in September by federal, state, and local authorities. He was indicted a short time later.
As part of his plea deal, Francis has agreed to pay more than two million dollars in corporate and personal income taxes he failed to pay in recent years.
Roebuck auctions out of Destin had the duty of selling the restaurant..
"I think the auction went great. We anticipate that he will close quick and take advantage of spring break and the upcoming season," Jeff Jourdan, of Roebuck Auctions said.
Carol Tendler owns "The Grove" in Mexico beach and she hopes Thursday's auction will bring a more positive image to the city.
"Cause Toucan's is an anchor for our area. We are only a 3 and and half miles long and we just embrace someone coming in and opening up a great restaurant," Tendler said.
Under Francis, the restaurant has brought in over three-million dollars each year over the past few years.
<Wonder how much it bought in ex-drugs?>
Last edited:
another article said it did 3.7 mil a year for the past 4 years. i've eaten there a few times and its not really that big a place. those revenue #'s seem very high for a seasonal business of that size.if those rev's are correct then it nets 800k- $1 mil per year as net profit margins for a good restraunt are 25%
