Houlihan’s Restaurants, Inc. (HRI), a diversified restaurant company, today announced that it has completed the acquisition of the 17 Houlihan’s restaurants located in New York and New Jersey. The newly acquired restaurants were owned by A.C.E. Restaurant Group (ACE), the single largest Houlihan’s franchisee.
“These 17 restaurants and the 1,500 employees have enjoyed great success and have a reputation for providing an outstanding dining experience resulting in best-in-class guest satisfaction ratings,” said Michael Archer, chief executive officer of HRI. “We look forward to welcoming them to the HRI family and continuing to build on the momentum they have created over the past twenty years.”
Financial terms of the acquisition were not disclosed.
Based in Leawood, Kansas, Houlihan’s Restaurants, Inc. (HRI) has developed and owns several restaurant concepts in the polished casual and fine dining space. HRI’s portfolio is comprised of 85 company-owned and franchised locations across the United States including Houlihan’s Restaurant + Bar, J. Gilbert’s Wood-Fired Steaks & Seafood, Bristol Seafood Grill, Devon Seafood + Steaks and TBD Bar + Social.
Houlihan’s Restaurant + Bar believes in happy hour, good tunes and cooking from scratch with real, whole ingredients. Established in 1972, there are 46 company-owned Houlihan’s and 22 franchised restaurants primarily throughout the Midwest and the eastern U.S.
