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.

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

RELATED CONTENT

VNEXT Helps IFED Reach Record Numbers

Virtual conferencing platform helps distributor association connect with participants.

Read More...
Qdoba Exterior

Qdoba Welcomes New Franchise Development Chief

Peter Ortiz brings 30 years of experience to the role,.

Read More...
Wendy's announced the appointment of Kevin Vasconi as chief information officer, effective today. He will report to president and CEO Todd Penegor and serve on Wendy's senior leadership team. Prior to joining Wendy's, Vasconi served as executive vice president, chief information officer at Domino's Pizza, Inc. Emphasis on technology innovation helped Domino's achieve more than half of all global retail sales in 2019 from digital channels, primarily online ordering and mobile applications. In the U.S. in 2019, Domino's generated over 65% of sales via digital channels. At Wendy's, Kevin will assume responsibility for all aspects of Wendy's global technology efforts, including Consumer-facing Digital, restaurant technology, enterprise architecture and technology, and information security. "Digital technology is a critical growth driver for Wendy's today and will be in the future," said President and CEO Todd Penegor. "Kevin Vasconi is an ideal leader to join our organization and help us advance to the next level. We are confident that his industry-leading experience will help to accelerate the growth we have already seen across technology channels in 2020, and he will lead a talented and well-resourced team focused on the substantial opportunities we see across the globe." "It's incredibly exciting to join The Wendy's Company in this next chapter of my career," said Vasconi. "The great potential for technology transformation at Wendy's, combined with the brand's 50-year heritage for quality and innovation tell me that the future is bright at Wendy's

Former Domino’s CIO Joins Wendy’s

Burger chain says Vasconi will oversee restaurant technology, and consumer-facing digital tech.

Read More...