Del Frisco to be Sold for $650M

Del Frisco’s Restaurant Group, which has been exploring strategic and financial options since December 2018, has agreed to be acquired by private-equity firm L Catterton in an all cash transaction valued at approximately $650 million.

Based in Irving, Texas, DFRG is comprised of 78 restaurants across 17 states and Washington, D.C., including Del Frisco’s Double Eagle Steakhouse, Del Frisco’s Grille, Barcelona Wine Bar, and bartaco.

Upon the close of the transaction, expected in the fourth quarter of 2019, L Catterton plans to run the bartaco and Barcelona Wine Bar businesses separately from the steakhouse brands in order to nurture the unique attributes of the brands.

During the past 30 years, L Catterton has invested in nearly 30 restaurant concepts globally,  such as Bloomin’ Brands (including Outback Steakhouse, Fleming’s Prime Steakhouse, Carrabba’s Italian Grill, and Bonefish Grill), Cheddar’s Scratch Kitchen, Crystal Jade, Culinary Concepts by Jean-Georges, P.F. Chang’s, and Uncle Julio’s.