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October 20, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Barteca Restaurant Group acquired for $325M

Barteca Restaurant Group, the Norwalk-based owner of the Barcelona Wine Bar and Bartaco chains, has entered an agreement to be acquired for $325 million in cash by Del Frisco’s Restaurant Group Inc., headquartered in Irving, Texas.

Barteca operates 31 restaurants in 10 states and the District of Columbia. Barcelona Wine Bar is the largest Spanish-themed restaurant chain in the country, with 15 locations and three under development, while Bartaco’s upscale street food concept is served in 16 locations with four under development.

Barteca will continue to be led by its CEO Jeff Carcara, who will report to Norman Abdallah, CEO of Del Frisco’s. During 2017, Barteca generated $127.9 million in net sales, with Barcelona bringing in $60.2 million and Bartaco harvesting $67.1 million.

“We believe Barteca’s innovative and ‘best-in-class’ concepts are highly complementary and will provide Del Frisco’s portfolio with significant growth and development opportunities,” Del Frisco CEO Norman Abdalla said in a statement. “They will provide opportunities to enable us to capture market share in the experiential dining segments, while mitigating the risk of seasonality and economic downturns to our current restaurant portfolio.”