The Board of Selectmen unanimously approved the transfer of three licenses to new owner Jason Rakauskas at their meeting Wednesday night.
Appearing before the board at Wednesday were Rakauskas, of Swampscott, his lawyer, John Keilty, of Peabody, and former owner and Swampscott resident Patty Johnson.
Keilty provided the board with signed checks for the restaurant's liquor license, entertainment license and Sunday entertainment license and said patrons shouldn't expect any sweeping changes.
"The intention is to keep the same name and run it extremely similar to the manner in which Patty has run it," Keilty said. "There may be some menu changes, but it won't be anything too earth-shattering."
Keilty told board members that Rakauskas has 16 years experience in the restaurant business, most recently serving as general manager at an Applebee's in Danvers and Bertucci's.
"I've been in the restaurant, I like the space and I like the food," Rakauskas said. "I think (Johnson) has done a great job with the place."
The restaurant, located on the upper-level of 165 Pleasant St., has two dining rooms, a 16-stool bar, capacity for 168 and a recently-approved outdoor seating area for 20.
The hours of operation will be the same: Monday through Saturday 9 a.m. to 12 a.m. and Sundays from 10 a.m. to 12 a.m.