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Texas Land & Cattle, Lone Star Steakhouses Acquired By Its Own Management Team

Texas Land & <a href=http://h.hatena.com/eduardoivcq/81788784871540733 Cattle and Lone Star Steakhouse brands are now owned by Day Star Restaurant Group, a newly formed company comprising members of the steakhouses' management team.' style='float:left;padding:5px' /> Dallas-based Day Star Restaurant Group bought the brands from Dallas private equity firm Lone Star Funds for an undisclosed amount. Scott Smith , chairman and CEO of Texas Land & Cattle and Lone Star see page Steakhouse, and Tim Dungan , president and CFO of both chains, own Day Star. Smith and Dungan are working on a three-year strategic plan aimed at refreshing the brands and bringing them back to their roots. This is a great day for both Texas Land & Cattle and Lone Star Steakhouse, because the leadership team is now also the ownership team, and we are 100 percent committed to the success of these go here outstanding brands, Dungan said in a statement. Lone Star Funds gave us the latitude to pursue a plan that has already begun paying dividends. Texas Land & Cattle owns and operates 27 restaurants in Texas, Arkansas, Missouri, New Mexico and North Carolina. Lone Star Steakhouse operates 78 restaurants in 29 states. Lone Star Funds previously owned Del Friscos before it went public in 2012. Related links:
Full story: http://www.bizjournals.com/dallas/news/2014/01/06/texas-land-cattle-lone-star.html

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