The long-term co-owner of Pellegrini’s Espresso Bar, Nino Pangrazio, will work his final day at the Bourke Street institution on October 31 – nine days before the anniversary of the death of his former business partner and beloved restaurateur Sisto Malaspina.

Nino Pangrazio, who co-owned Pellegrini's with beloved restaurateur Sisto Malaspina since 1974, will retire next week. Credit:Eddie Jim

Mr Pangrazio on Tuesday confirmed Sisto’s son David would purchase Sisto’s 50 per cent share in Pellegrini’s and take control of the restaurant’s day-to-day operations after Mr Pangrazio retires next week.

Mr Pangrazio’s departure will mark the first time in 45 years that neither he nor Sisto have worked in Pellegrini’s, after the duo bought the restaurant from the Pellegrini brothers in 1974.

Mr Pangrazio, 82, had reduced his workload to three days a week last year as he moved towards retirement.