Landry’s Restaurants acquiring Claim Jumper for $48 million
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Landry’s Restaurants Inc., the Houston-based seafood chain, is acquiring insolvent Claim Jumper Restaurants for $48 million, said Landry’s Chief Executive Tilman Fertitta.
“It’s a little more than we thought we were going to have to pay,” Fertitta said. “But we’re very comfortable.”
Claim Jumper, which is based in Irvine and runs Western-themed eateries in eight U.S. states, filed for bankruptcy protection Sept. 10. The company listed as much as $100 million in assets and as much as $500 million in debt in U.S. Bankruptcy Court in Wilmington, Del.
Landry’s restaurants include the Rainforest Cafe, the Flying Dutchman and Charley’s Crab. The company trumped an initial bid of $27 million from Black Canyon Capital and Bruckmann Rosser Sherrill & Co.
On Oct. 6, Fertitta completed a $1.4-billion buyout of the company after settling a shareholder lawsuit and raising his bid to $24.50 a share. Last November, he attempted to acquire the company for $14.75 a share in cash.
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