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Steakhouse chain to be “refreshed and modernized”
Morton’s Restaurant Group Inc. said it has signed a definitive agreement to be acquired by an affiliate of restaurateur Landry’s Inc. in a cash deal valued at about $117 million. The deal for the 77-unit steakhouse chain is expected to close in February.
“Morton’s will be refreshed and modernized while still maintaining its first-class atmosphere and food quality,” said Landry’s owner Tilman Fertitta.
This is the second acquisition in recent weeks by privately held Landry's, which last month agreed to buy McCormick & Schmick's Seafood Restaurants for about $132 million. The two acquisitions will join Landry’s existing stable of restaurant brands, including Landry's Seafood House, Rainforest Cafe, The Chart House, Bubba Gump Shrimp Co., Vic & Anthony's, Grotto and Willie G’s.
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