Founders Paul and Wendy Smith opened the multi-award-winning Dean Street eatery during 1999.

Mr Smith said they decided to sell the business because their two children now lived away.

"When we started they were in preschool," he said.

"Now they're grown and both live in Sydney; we can't get to see them as much as we'd like."

Mr Smith said they were proud of what they had achieved over a long time.

"It's time for someone to go Green Zebra Mark 2 and take it where they want to go."

Mr Smith said there was potential to expand the fresh pasta business.

"Wendy and I have a good synergy for running a food business," he said.

"Wendy is an accountant and I'm the chef, which gave us a different approach."

Green Zebra has employed more than 100 staff and trained many chefs.

Commercial real estate agency NAI Harcourts is managing the sale.