Franchise News
Del Frisco Restaurant Group Inc. and Activist Investor Engaged Capital LLC Reach an Agreement
The agreement includes an Engaged Capital-backed addition to the board of directors.
Don Frisco Restaurant Group Inc. reached dètente with their investor Engaged Capital LLC on Monday, according to an article in Nation’s Restaurant News.
According to the article, “The Irving, Texas-based parent to the Del Frisco’s Double Eagle Steakhouse, Del Frisco’s Grill, Barcelona Wine Bar and Bartaco concepts said it was also terminating a shareholder rights plan it adopted in December after noticing unusual activity in its share trading.”
Engaged Capital LLC owns almost 10 percent of the company’s shares. The agreement with Del Frisco’s “includes the appointment of activist-endorsed board member Joe Reece, founder and CEO of Helena Capital,” the article said.
The change comes as Del Frisco’s board reviews “strategic alternatives” to a potential whole or partial company sale, announced in December, the article said.
Read the full article here.
Image courtesy of Del Frisco on Facebook.
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About the Author
Katie LaTour
FollowKatie LaTour is a staff writer for 1851 Franchise and Estatenvy. She has experience in copywriting, editing and translation, and has written content for brands including Coca-Cola, Ivivva and Ray Ban's. She holds a Master of Arts in Writing and Publishing from DePaul University and a B.A. in English and Spanish from the University of Dayton. Presently, Katie is working on a poetry collection and building a platform for Chicago creative professionals to share best practices.
