Houston billionaire Tilman Fertitta’s co. completes steakhouse chain acquisition

Houston-based Landry’s Inc. and an affiliate have completed the acquisition of the Palm steakhouse chain, billionaire Tilman Fertitta announced late March 11.

Landry’s, which is wholly owned by Fertitta, paid $45 million to buy the restaurants from Naples, Florida-based Just One More Restaurant Corp., which filed for bankruptcy protection in March 2019. Last month, Fertitta’s Golden Nugget LLC company had been designated the stalking horse bidder for the assets with an offer of $50 million.

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