Steakhouse Del Frisco's To Acquire Barteca (Bartaco & Barcelona) for $325 million

CTbites Team
 Photo courtesy of Barteca

Photo courtesy of Barteca

If you haven't heard the news, this is big for CT, reported here by CNBC.

Del Frisco's Restaurant Group, known for its upscale steakhouses, told CNBC it will acquire Barteca Restaurant Group for $325 million in cash in a bid to expand its footprint and balance its portfolio.

The deal announced Monday represents a calculated move by Del Frisco's, which owns Del Frisco's Grill, Del Frisco's Double Eagle and Sullivan's Steak House, to grow in scale and reach new customers. It's a big step for a company with a market cap of $344.8 million.

Barteca is a 20-year-old company with two brands, Barcelona, an upscale casual dining restaurant that specializes in Spanish and Mediterranean cuisine, and Bartaco, which features a menu of "upscale street food" with bold South American, Mediterranean and Asian flavors.

Read the complete article on CNBC.