Late last night, Del Frisco’s Restaurant Group announced that is Board of Directors has commenced a comprehensive review of strategic alternatives.
The company has said that all options will be evaluated, including a full sale of the company or partial sale of single brands. Del Frisco is a collection of 73 restaurants that include Del Frisco’s Double Eagle Steakhouse, Barcelona Wine Bar, Bartaco and Del Frisco’s Grille.
This potential sale joins Jack In the Box, Papa Murphy’s and possibly Papa Johns on the sale block. Del Frisco’s stock currently trades at a market cap of $218M ($6.55/share) This equates to 8x 2019 EV/EBITDA.