Tilman Fertitta's Landry's Inc. Acquires Legendary Houston-Based Food Chain in $500 Million Deal
Houston, Texas – In a sweeping expansion of his restaurant empire, billionaire and owner of the Houston Rockets, Tilman Fertitta, announced today that his company, Landry’s Inc., has completed the acquisition of a legendary, family-owned Houston-based barbecue chain for a reported $500 million. The deal, finalized at 10:00 AM Central Time, consolidates Fertitta’s dominance over the city’s culinary landscape.
What is the acquisition? Landry’s Inc., a publicly traded hospitality conglomerate, has purchased Luling City Market, a historic Texas barbecue institution with five locations across the state, for an estimated $500 million in cash and stock. The transaction includes all recipes, real estate, and supply chain assets.
Who is involved? The primary figure is Tilman Fertitta, 67, a Houston native and prominent restaurateur. The sellers are the founding Miller family, who have operated the barbecue chain for 74 years. The acquisition was facilitated by financial advisors at Goldman Sachs.
When did it occur? The deal was signed and executed early this morning, effective immediately. News was released via a press conference at Landry’s headquarters at 5:00 PM Eastern Time.
Where is this relevant? The epicenter is Houston, Texas, where Luling City Market’s flagship location has been a tourist destination. However, the acquisition will impact Landry’s national portfolio, including properties in Orlando, Las Vegas, and New York, where the brand may expand.
Why is this significant? This marks Fertitta’s largest single restaurant brand acquisition in over a decade, diversifying Landry’s holdings beyond seafood and steakhouses into the competitive barbecue sector. Industry analysts project the merger will increase Landry’s annual revenue by 12 percent, further cementing Fertitta’s nickname as the “King of