Del Frisco’s Restaurant Group has reportedly bought Barteca Restaurant Group for $325 million.
Del Frisco’s is known for its high-end steakhouse chain. The deal looks to expand into a new customer base outside of that concept by branching into other culinary areas.
Founded in 1998, Barteca includes the brands Barcelona and Bartaco. The former features upscale tapas in Spanish and Mediterranean styles, while Bartaco focuses on high-end street food with South American, Mediterranean and Asian influences.
Both brands also have extensive and well-curated wine menus, and are decorated in a reflection of both South American and South Californian beach cultures.
Nationally there are 15 Barcelona locations and 16 Bartacos. Del Frisco’s CEO Norman Abdallah told CNBC that he believes the company in due time can open “50 to 100 Barcelona restaurants in the U.S. and 200 to 300 Bartacos.”
Between its three current brands — Del Frisco’s Grill, Del Frisco’s Double Eagle and Sullivan’s Steak House — Del Frisco’s currently has 53 locations.
“The deal with Barteca is expected to close by the end of the second quarter,” the CNBC article reports. “Barteca’s CEO Jeff Carcara will remain in his post and report directly to Abdallah.”