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NBA owner buys Del Frisco steakhouse chain



Billionaire and Houston Rockets owner Tilman Joseph Fertitta announced he has purchased the famous Del Frisco steakhouse chain on Wednesday, a move that signaled the expansion of his hospitality empire.

"We have followed Del Frisco's for many years and once tried to acquire the company in 2012 before it was released," Fertitta said in the announcement of the acquisition. "It's a storied steakhouse brand with roots in Texas and iconic locations throughout the country. "

Landry's, wholly owned by Fertitta, agreed to buy 100% of Del Frisco's Double Eagle Steakhouse and Del Frisco's Grilles from L Catterton , the largest and most global consumer-focused private equity company.

A general viewing at the Grand Opening of Del Frisco's Grille on July 17, 2013 in Santa Monica, California. (Photo by Tiffany Rose / WireImage)

Although the price was not disclosed, in June L Catterton signaled a definitive agreement to acquire the listed Del Frisco's Restaurant Group, Inc. in a deal valued at approximately $ 650 million.

Landry's, Inc. is a multinational, diversified restaurant, hospitality, gaming and entertainment company operating more than 500 high-end and casual dining locations around the world. The acquisition of Del Frisco's steakhouse chain gives Fertitta control over 35 more restaurants across the country.

Ticker Security Last Change % Chg
DFRG DEL FRISCOS RESTAURANT GROUP 7.98 -0.02 -0.25% [19659017] "We couldn't be happier with the acquisition and plan no changes in operations," Fertitta said.

According to the release, one of the recently required resturants, Manhattan staple Del Frisco & # 39; s Double Eagle, is one of the highest grossing resturants in the country.

FOX Business decided to take a look at a list that compiles the latest top 100 independent restaurant lists compiled by Restaurant Business.

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Top of the list stood Tao Las Vegas with an annual turnover of approximately $ 43,447,100.

Next on the list was Joe's Stone Crab located in Miami Beach. According to the list, they reported annual sales of around $ 35,860,000.

Coming in at number three was Carmine & # 39; s in Times Square with reported annual sales of $ 35155 786.

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