New Owners For Houlihan’s Restaurants
York Capital Management has signed a definitive agreement to buy the parent company of Houlihan’s Restaurants, the Leawood, Kan.-based chain, from a subsidiary of Goldner Hawn Johnson & Morrison. Terms were not disclosed, but the transaction was expected to close in December.
Restaurant veteran Michael Archer is investing along with York and will become the CEO of Houlihan’s Restaurants Inc. (HRI). Archer previously has been president of Applebee’s, TGI Fridays and Morton’s The Steakhouse; he also has been COO of Sullivan’s Steakhouse and Del Frisco’s Double Eagle Steakhouse. Current Houlihan’s Chairman and CEO Bob Hartnett will leave his post but remain involved in the company as a consultant.
There are 31 company-owned Houlihan’s restaurants and 42 franchised locations. HRI’s brands also include five J. Gilbert’s Wood-Fired Steaks locations, four Bristol Seafood Grill restaurants, six Devon Seafood Grill and Bar restaurants and a Chequers Seafood & Steak unit in Atlanta.