Mitchell's sold to Ruth

Per Business First a bit ago:

Cameron Mitchell Restaurants LLC is selling its 19-unit Mitchell's Fish Market chain to Heathrow, Fla.-based Ruth's Chris Steak House Inc.

The deal, which also includes two Mitchell's Steakhouses and one Cameron's Steakhouse, is valued at $94 million, according to a news release.

It'll be interesting to see how this affects the local location. Based on their steak houses I'd expect prices to go up even more. And of course since they're a much larger chain I'm sure the restaurants will lose some of their individuality.

Hopefully we'll see improvements (or at least no deterioration) but I won't hold my breath. . . . .

Not a bad day's work for Mr. Mitchell.

I agree, Ron. That sounds like a pretty hefty price for a relatively small business. The sales per unit must be surprisingly high.

I agree, Ron. That sounds like a pretty hefty price for a relatively small business. The sales per unit must be surprisingly high.

I've got to think that Ruth's people did their homework and figured out that this small chain is ripe for mega-expansion to compete with McCormick & Schmick's and the like. I bet it goes from 13 to 50 within 12 months.

Why not...It is a great place to eat.

Why not...It is a great place to eat.

easy trigger. no one said why it shouldn't. no one is hurting the chains. it's ok.