US-based restaurant operator Ignite Restaurant Group has completed the acquisition of Romano's Macaroni Grill for about $55m from private equity firm Golden Gate Capital, management and investors.
The acquisition includes 186 company-owned and five franchised restaurants across 36 states as well as 19 additional franchised units throughout nine US territories and foreign countries.
Ignite Restaurant Group chief executive officer Ray Blanchette said that the company is pleased to have closed on the acquisition of Macaroni Grill and add such an iconic brand to its portfolio.
"With a similar operating format, Macaroni Grill is an ideal fit with our existing polished casual restaurants," Blanchette added.
The company has appointed David Catalano as new president. Catalano has 25 years of experience in the casual dining and hospitality industry, most recently as chief operating officer for Rave Cinemas.
"The addition of David to our team completes our new organizational structure, which will allow us to lever the synergies of being a multi-concept company without distracting the operations teams from growing their respective brands and delivering an exceptional guest experience," concluded Blanchette.
Ignite Restaurant Group currently owns and operates 131 Joe's Crab Shacks and 15 Brick House Tavern + Taps.
