Del Frisco’s Double Eagle Steakhouses’ and Del Frisco’s Grille’s time as part of private equity firm L Catterton’s portfolio will be a short one. That’s because L Catterton, which closed on its previously announced $650 million all-cash acquisition of the Del Frisco’s duo on September 25 plans to sell the restaurant chains to Landry’s Inc. Terms of the deal with Landry’s were not disclosed.
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 L Catterton will retain. Del Frisco’s acquired bartaco and Barcelona Wine Bars in May of 2018.
Del Frisco's operates in in the high-end steak dining segment with more than 35 restaurants in more than 13 states in the U.S. This is not the first time Landry’s ownership has shown an interest in the Del Frisco’s concepts. “We have been following Del Frisco's for many years and tried once previously to acquire the company in 2012 before it went public,” said Tilman J. Fertitta, the owner and operator of Landry’s. “It is a storied high-end steakhouse brand with roots set in Texas and iconic locations throughout the country.”
Landry’s operates more than 500 high-end and casual dining establishments around the world.