Lone Star Steakhouse & Saloon
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| Private | |
| Industry | Restaurants |
| Founded | 1989 |
| Headquarters | Plano, Texas |
| Products | Burgers, Steak, Seafood, Salad |
| Website | www |
Lone Star Steakhouse & Saloon is a casual dining restaurant chain, serving steak, seafood, salad, and similar food items. Lone Star opened its first restaurant in 1989 in Winston-Salem, North Carolina. In March 1992, Lone Star became a public company with eight restaurants opened. Starting on February 18, 2008 thru to December 2014, Lone Star closed 27 restaurants (several in the metro Washington DC area) to leave the company with 152 locations. As of 2017 the company website lists 16 restaurants in nine states. Curiously, none of the Texas-themed restaurants can be found in the state of Texas, from which the restaurant's name is derived.
As of 2011[update], Lone Star also operates the Texas Land and Cattle (ranch house styled) under the parent company name Center Cut Hospitality Inc.
On August 18, 2006, Lone Star Steakhouse signed an agreement to be acquired by Lone Star Funds, an unaffiliated, Dallas-based private equity firm, for $27.10 per share in cash. This initial agreement was opposed by some major shareholders. On November 11, 2006, Lone Star Funds raised its offer to $27.35 per share. On December 12, 2006, shareholders voted to accept the offer.
Because it is now private, Lone Star Steakhouse has been de-listed from NASDAQ. This is also the reason Lonestar stopped sponsoring the #40 Dodge of David Stremme.
Following the buyout, Lone Star Steakhouse switched from its "Texas Roadhouse" theme to a more urban-style restaurant, abandoning most of the Texas and cowboy themes in its older restaurants. The current restaurant design is more upscale, with virtually none of the Americana seen in the pre-2006 restaurants.
Lone Star Steakhouse & Saloon first opened in Australia, at Parramatta in January 1993 after acquiring the naming rights from a Melbourne-based franchise of the same name.
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Wikipedia