In a deal valued at $325 million, Del Frisco’s Restaurant Group will acquire Barteca Restaurant Group, a multi-concept operator that owns Barcelona Wine Bar and bartaco. Combined these 2 concepts have 31 restaurants operating across 10 states and Washington, D.C.
A tapas-style concept, Barcelona operates 15 restaurants and has 3 in development, per a release announcing the deal. Del Frisco’s anticipates growing this Spanish restaurant chain to 50 to 100 locations in the U.S. With 16 locations in operation and 4 in development, bartaco features a menu of fresh, upscale street food with a coastal vibe in a laid-back environment. Del Frisco’s anticipates growing bartaco to 200 and 300 restaurants domestically.
“[Barcelona and bartaco] will provide opportunities to enable us to capture market share in the experiential dining segments, while mitigating the risk of seasonality and economic downturns to our current restaurant portfolio,” said Norman Abdallah, CEO of Del Frisco’s Restaurant Group Inc. “Similar to Del Frisco’s own vision and mission, Barteca’s founders Andrew Pforzheimer and Sasa Mahr-Batuz created Barcelona and bartaco to celebrate life in restaurants through great food, wine and hospitality. As a result, their award-winning concepts have become leading ‘experienced-based’ lifestyle brands that provide them competitive advantages in the marketplace. These include connectivity beyond the four walls of the restaurants, culture and brand transcending food, and powerful ‘halos’ that drive appeal and loyalty.”
Once the acquisition is complete, Jeff Carcara will retain his role as Barteca CEO.
For 2017, Barteca generated $127.9 million in net sales and $31.7 million in restaurant-level EBITDA, representing a 24.8 percent margin, per the release announcing the deal. Barcelona generated $60.2 million in net sales, including a 1.9 percent increase in comparable restaurant sales. In addition, bartaco generated $67.1 million in net sales, including a 7.3 percent increase in comparable restaurant sales. For the first quarter ended April 3, 2018, Barcelona generated comparable restaurant sales of 1.7 percent while bartaco generated comparable restaurant sales of 2.6 percent.