Landry’s Inc. on Wednesday shuttered at least eight units of Morton’s steakhouse in various markets as it completed its acquisition of the high-end steakhouse company.
The $116.6 million acquisition of Chicago-based Morton’s Restaurant Group Inc. was completed Wednesday in a tender-offer deal with affiliated companies owned by Houston-based Landry’s chairman and chief executive Tilman Fertitta.
Morton’s units were reported closed in Atlanta, Boston, Brooklyn, N.Y., Denver, Jacksonville, Fla., Miami Beach, Fla., Phoenix and Tyson’s Corner, Va. The company’s website lists 58 remaining U.S. Morton’s locations. At the end of 2011, the company had reported 67 domestic units.
Several of the markets, such as Atlanta, Boston, Denver and Phoenix, had at least two restaurants, and at least one remains open in each of those cities.
“Having been in business for more than 30 years, Morton’s operates domestically and internationally, with multiple locations in some cities,” said Kris Guthrie, Landry’s vice president of marketing. “Over time, demographics shift and so do the areas in which businesses thrive and it’s because of this that we must close a few Morton’s locations,” Guthrie said.
Landry’s early in January also shuttered a number of McCormick & Schmick’s units after it closed on its purchase of that Portland, Ore.-based upscale seafood chain.
The staff at the Morton’s unit in West Palm Beach, Fla., initially was told that store too was closing, the company later said the report was “horrible mistake” and that the 21-year-old Morton’s location was to be renovated and not closed.
Morton’s operates restaurants in 26 states and Puerto Rico and has six international locations in Hong Kong, Macau, Mexico City, Shanghai, Singapore and Toronto.
Privately owned Landry’s owns Rainforest Cafe, Saltgrass Steak House, Landry’s Seafood House, Claim Jumper, Bubba Gump Shrimp Co. and The Chart House, as well fine-dining restaurants Vic & Anthony’s, Brenner’s Steakhouse, Grotto, LaGriglia, Willie G’s and Oceanaire.
Landry’s also owns the Golden Nugget Hotel & Casinos in Atlantic City, N.J., Las Vegas and Laughlin, Nevada, the Kemah Boardwalk, the San Luis Resort, Inn at the Ballpark and the Downtown Aquarium in Denver and Houston.
Landry’s said the companies will generate about $2.5 billion in revenue in 2012.
Contact Ron Ruggless at [email protected].
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