Houston-based casual dining seafood chain Landry’s Restaurants has completed its acquisition of 39 Chart House restaurants located predominantly on the East and West coasts of the US from Angelo and Maxie’s, Inc. formerly Chart House Enterprises.
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Landry’s acquired the assets of the restaurants for about US$45.5m in cash as well as the assumption of certain trade payable related liabilities. Landry’s did not assume any existing Chart House bank or subordinated debt. The Angelo & Maxie’s restaurants, also owned by Angelo and Maxie’s, were not included in the transaction.
Landry’s also announced that its consolidated revenues were around US$232m and earnings per share are expected to be several cents above consensus estimates for the three months ended 30 June 2002.
