Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Texas  | 

Del Frisco’s to Trade Sullivan’s Steakhouse for $32M

Del Frisco’s Restaurant Group announced it would sell its Sullivan’s Steakhouse brand to Romano’s Macaroni Grill in a deal worth $32 million. The acquisition is expected to close on or before Sept. 30, 2018. The Irving, TX-headquartered Del Frisco’s will use the proceeds to pay down debt.

Sullivan’s has 14 locations in 12 states. The chain’s sale comes as the brand experienced poor comparable sales. In Q2 2018, comp sales had fallen by 6%, while customers dropped by 11.1%, according to the Dallas Business Journal.

Scott Smith, who had served as president of Sullivan’s Steakhouse since January 2017, will remain with Del Frisco’s and assume similar responsibilities for Del Frisco’s Double Eagle Steakhouse. Ray Risley, who previously served in that same position, resigned to pursue other interests.

Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter


Inside The Story

Read More at Del Frisco's Restaurant Group

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.