Business

Connecticut-based company buys Del Frisco’s restaurants for $650 million

In the latest news of outside companies acquiring Texas-based brands, Del Frisco’s Restaurant Group was sold Monday to Connecticut-based L Catterton.

According to the news release, L Catterton bought Del Frisco’s for $650 million. The transaction included all of the restaurants under the Del Frisco’s umbrella: Del Frisco’s Double Eagle Steakhouse, Del Frisco’s Grille, Barcelona Wine Bar and bartaco.

Del Frisco’s restaurants are all based on Spanish and Mediterranean cuisine in a modern environment. There are 78 Del Frisco’s branded restaurants in 17 states, including four in Tarrant County.

According to the news release L Catterton plans to separate bartaco and Barcelona Wine Bar from the other businesses in order to “nurture the unique attributes.”

“Del Frisco’s has four outstanding brands in two distinct and attractive categories — upscale regionally-inspired cuisine, and steak and grille,” said Andrew Taub, L Catterton managing partner. “We’re excited to partner with (Del Frisco’s) to harness the power of these brands by operating the upscale regionally-inspired brands separately from the steak and grill concepts.”

With this sale, L Catterton has a significant presence in Texas brands. The company bought Uncle Julio’s in 2017, and it has also invested money in Hopdoddy Burger Bar and Velvet Taco.

Carla Jimenez covers breaking business news and commercial retail development. Born and raised in Euless, she took a detour in the Midwest for a few years, but she’s back in the land of football, barbecue and Dr Pepper.
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