The Walnut Tree Inn in Abergavenny has been sold after being closed in March "pending some re-organisation".
Franco and Ann Taruschio founded the former Michelin-starred restaurant 30 years ago with recent owner Francesco Mattioli taking over in 2001.
The restaurant received negative press attention when Ramsay criticised its prices on his Kitchen Nightmares program in the same year.
The Walnut Tree Inn is thought to have been sold to Caradog Hotels however further details were not available at the time of going to press.