Del Frisco’s to sell Sullivan’s Steakhouse brand in $32M deal

Del Frisco’s Restaurant Group (Nasdaq: DFRG) announced Tuesday that it will sell its Sullivan’s Steakhouse brand to Romano’s Macaroni Grill in a $32 million deal.

Proceeds from the sale will be used to pay down debt, Del Frisco’s said in a news release. The purchase is expected to close on or before Sept. 30.

Scott Smith, who was named president of Sullivan’s in January 2017, will take the same role with Del Frisco’s Double Eagle Steakhouse. Ray Risley, who previously headed Double…