Irving-based Del Frisco’s has been sold to the same PE group that owns PF Changs, Uncle Julio’s, Velvet Taco
Del Frisco’s Restaurant Group announced today that they’ve been sold to L Catterton, a private equity group that also owns Uncle Julio’s, Velvet Taco and PF Changs. The deal gives L Catterton the entire DFRG portfolio, which includes Del Frisco’s Double Eagle and Del Frisco’s Grille offshoots, plus the company’s two growth chains, Barcelona Wine Bar and Bartaco (the one concept we love).
L Catterton will likely cleave Barcelona Wine Bar and Bartaco from the two steakhouses. Barcelona and Bartaco would then be operated along with the upscale Mexican chain Uncle Julio’s. The company also now owns Velvet Taco.
L Catterton, a frequent buyer and investor in restaurant chains, owns restos that include Noodles & Co., Snap Kitchen, Piada Italian Street Food, Hopdoddy Burger Bar, Uncle Julio’s, and Punch Bowl Social, which opens in Dallas next week. The company also owns Cholula hot sauce, just to keep things spicy.
“L Catterton brings a distinguished track record of fostering the growth and success of world-class experiential brands,” Del Frisco’s CEO Norman Abdallah said in a statement.
I think this sale is good news for diners who love prime beef. The quality of a meal at Del’s has slipped in the last few years. I cook a better steak at home than Del’s does (see the pic above for proof.) Now there’s a glimmer of hope the tarnished brand can regain some of its original sparkle.