HOUSTON – (Realty News Report) – Houstonian Tilman J. Fertitta announced that Landry’s, Inc. has agreed to acquire the Del Frisco’s Double Eagle Steakhouses and the Del Frisco’s Grilles, which has 35 restaurants in 13 states.
The seller is L Catterton, the largest and most global consumer-focused private equity firm. The price was not disclosed, but it was estimated to be over $300 million.
Del Frisco’s is a leading operator in the high-end steak dining segment with over 35 restaurants in over 13 states in the U.S. There are four Del Frisco’s in Texas, including locations in Houston and Dallas.
“We have been following Del Frisco’s for many years and tried once previously to acquire the company in 2012 before it went public. It is a storied high-end steakhouse brand with roots set in Texas and iconic locations throughout the country,” Fertitta said. “Del Frisco’s is a perfect complement to our existing high-end steakhouse portfolio, which includes such notable concepts as Mastro’s, Morton’s, Vic and Anthony’s, Strip House and Brenner’s.”
The sale to Landry’s is expected to close at the end of October and does not include the ownership of the bartaco and Barcelona Wine Bar brands, which will be retained by L Catterton.
Houston-based Landry’s, Inc., wholly owned by Fertitta, is a multinational, diversified restaurant, hospitality, gaming and entertainment company.
The company owns Willie G’s, McCormick & Schmick’s and casual dining brands including Landry’s Seafood, Bubba Gump Shrimp Co., Rainforest Cafe, Mitchell’s Fish Market Restaurants, and Saltgrass Steak House, along with popular New York BR Guest Restaurants such as Dos Caminos and Bill’s Bar & Burger.
Landry’s gaming division includes the renowned Golden Nugget Hotel and Casino concept, with locations in Las Vegas and Laughlin, Nev.; Atlantic City, N.J.; Biloxi, Miss.; and Lake Charles, La. Landry’s entertainment division includes including the Galveston Island Historic Pleasure Pier, Kemah Boardwalk and Aquarium Restaurants.
Hospitality holdings include San Luis Resort, Spa & Conference Center on Galveston Island and the Post Oak Hotel near Loop 610 Houston.
Sept. 25, 2019 Realty News Report Copyright 2019
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