M&A Deal Summary

L Catterton Partners Acquires Del Frisco s Restaurant Group

On June 24, 2019, growth capital firm L Catterton Partners acquired restaurant Del Frisco s Restaurant Group for 650M USD

Acquisition Highlights
  • This is L Catterton Partners’ 26th transaction in the Restaurants sector.
  • This is L Catterton Partners’ 5th largest (disclosed) transaction.
  • This is L Catterton Partners’ 100th transaction in the United States.
  • This is L Catterton Partners’ 11th transaction in Texas.

M&A Deal Summary
Date 2019-06-24
Target Del Frisco s Restaurant Group
Sector Restaurants
Buyer(s) L Catterton Partners
Deal Type Going Private
Deal Value 650M USD
Advisor(s) Piper Jaffray Companies (Financial)
Kirkland & Ellis (Legal)

Target

Del Frisco s Restaurant Group

Irving, Texas, United States
Del Frisco's Restaurant Group is a collection of 78 restaurants across 17 states and Washington, D.C., including Del Frisco's Double Eagle Steakhouse, Del Frisco's Grille, and Sullivan's Steakhouse. Del Frisco's Double Eagle Steakhouse serves up flawless cuisine that's bold and delicious, an extensive award-winning wine list and a level of service that reminds guests that they're the boss. Del Frisco's Restaurant Group was founded in 1981 and is based in Irving, Texas.

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Buyer(S) 1

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 158 of 221
Sector (Restaurants) 26 of 30
Type (Going Private) 4 of 5
State (Texas) 11 of 14
Country (United States) 100 of 133
Year (2019) 9 of 14
Size (of disclosed) 5 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Alliance Animal Health

Stamford, Connecticut, United States

Alliance Animal Health is a multi-site owner, operator, and business partner to veterinarians in the United States. Alliance Animal Health allows veterinarians to continue to practice medicine independently while providing resources and assistance in business operations. Alliance Animal Health was founded in 2016 and is based in Stamford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 SteelSeries

Copenhagen, Denmark

SteelSeries is a manufacturer of professional gaming mice, headsets, keyboards and other peripherals for PC, Mac and Xbox 360 platforms. SteelSeries improves performance through first-to-market innovations and technologies that enable gamers to play harder, train longer, and rise to the challenge. SteelSeries was founded in 2001 and is based in Copenhagen, Denmark.

Sell -
Mergr

Product

Company

Legal