Ruth's Chris Steak House of Lake Mary, La., announced yesterday that it completed the acquisition of Cameron Mitchell Restaurants' Mitchell's Fish Market and Columbus Fish Market.
The deal was finalized for approximately $92 million.
"We are very pleased to have closed this transaction, which represents a meaningful entry into the fresh seafood restaurant market. Mitchell's Fish Market's upscale casual focus and contemporary atmosphere is a wonderful complement to our own flagship brand, and further balances our portfolio by serving as a secondary growth vehicle," said Craig Miller, president and CEO of Ruth's Chris, in a prepared statement.
"As stated previously, we intend to operate Mitchell's Fish Market as a distinct entity, but will offer our brand management and development expertise to support the Mitchell's operations team as they expand nationally. We are very excited for everyone involved and above all else, we welcome all of our new team members and associates to the Ruthâ??s Chris family."
Damon Liever, former senior VP of marketing for Ruth's Chris, will assume the role of president of the new seafood division. Cameron Mitchell, founder and president of Cameron Mitchell Restaurants in Columbus, Ohio, will remain in a consulting role for three years.
