Del Frisco's Restaurant Group Sells to Private Equity Firm for $650 Million

Irving-based Del Frisco's Restaurant Group reached a deal to sell to private equity firm L Catterton, the company announced Monday.The firm, which already own other restaurant properties like Uncle Julio's and P.F.Chang's, will pay 8$ per share in cash for a total of $650 million."L Catterton brings a distinguished track record of fostering the growth and success of world class experiential brands. Together with their deep operational expertise in the restaurant industry, I am confident L Catterton will be a great long-term partner," Norman Abdallah, Chief Executive Officer at Del Frisco's Restaurant Group, Inc. said in a statement.Del Frisco's Restaurant Group includes popular Dallas steakhouses like Del Frisco's Double Eagle and Del Frisco's Grille on top of Hispanic food restaurants Bartaco and Barcelona Wine Bar.Del Frisco's has been seeking strategic options including a sale for almost a year, according to industry publication Restaurant Business.  Continue reading...