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Cameron Mitchell To Sell Fish, Steak Restaurants

 BUTerrier
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10tv.com wrote Cameron Mitchell To Sell Fish, Steak Restaurants

Nov 06 2007 5:20PM

COLUMBUS, Ohio — Cameron Mitchell Restaurants has signed an agreement to sell its fish and steak restaurants to Ruth’s Chris Steak House Inc. for $94 million, the two companies said Tuesday.

The sale, expected to close in the first quarter of 2008, includes Columbus Fish Market, Mitchell’s Fish Market, Mitchell’s Steakhouse and Cameron’s Steakhouse.

Cameron Mitchell Restaurants now will concentrate on the expansion of Mitchell’s Ocean Club and Marcella’s, said Cameron Mitchell, president and founder of the privately held company.

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  • Walker

    Someone guessed awhile ago that he’s be bought out completely, but it sounds like this is just the fish & steak brands.

  • TimFitz

    wonder why that is….

  • gramarye

    Surprised the article didn’t mention the flagship. Anyone know what’s going to happen to M?

  • joshua

    Smart man, he learned more than just how to run a restaurant with his time at 55 group.

  • dru

    gramarye wrote Surprised the article didn’t mention the flagship. Anyone know what’s going to happen to M?

    i suspect he’ll retain it. M is a one-off, and Ruth Chris’ would have no use for it. i’m more worried about them cutting the steakhouse downtown.

  • Brewmaster

    dru wrote i’m more worried about them cutting the steakhouse downtown.

    I think we can pretty much put the stake in the heart of that plan. There’s no way they’d open something a couple blocks away that would directly compete with a restaurant they now own.

  • pixlfarmer

    I’ve got a couple friends who’ve served at the fish market for a long time. They’re very nervous about their health insurance dissapearing. Apparently Mitchell’s benefits are much better than the industry norm.

  • ddavis

    Just read about this in the dispatch. He’s going from 33 restaurants down to 11. Quite the change. It mentioned him expanding Ocean Club and Marcella’s. For some reason the front page link isn’t working right now……

  • BUTerrier

    Ocean Club is part of this deal is it not?

  • shroud

    Ocean Club is NOT part of the deal, since it’s specifically mentioned as one of the brands CM is going to keep & work on expanding (along with Marcella’s).

    M, Molly Woo’s, Cameron’s, Cap City, and Martini don’t appear to be included either. From reading the Ruth’s Chris press release, it looks like it’s just (whatever) Fish Market and (whatever) Steakhouse in the deal.

    I wonder what that means for the Polaris Mitchell’s Steakhouse location? Will it be a Ruth’s Chris then? Because if so, it’s really not all that far from the Crosswoods location.

  • somertimeoh

    shroud wrote

    I wonder what that means for the Polaris Mitchell’s Steakhouse location? Will it be a Ruth’s Chris then? Because if so, it’s really not all that far from the Crosswoods location.

    It was included in the deal :(

    Columbus Business First wrote

    Two of the three Mitchell’s steakhouses in the deal are in Columbus, including a new Polaris restaurant expected to open later this month. It’s replacing the company’s Crosswoods restaurant, which will serve as a company-owned catering facility called the Ballroom. The third is in Birmingham, Mich.

  • vestanpance

    should have sold molly Woo’s off if he could, that place sucks

  • Ndcent

    When I heard this on the news the drama surrounding this was “what will people do with their gift cards!? AHHH!!!”

    This is why I hardly ever watch the news.

  • cab124

    It has always been sad for me to watch the homegrown companies, restaurants, etc., get absorbed into the sea of national corporations and chains. It always feels like every time this happens, a small part of what gives Columbus its unique character is lost. For me, the cool thing about Mitchell’s steak house is that it bears the name of a Columbusite and reflects his unique spin on what a steakhouse can be. Seeing Mitchell’s on 3RD St., Downtown, change to just another Ruth’s Chris wouldn’t be the greatest. Instead of visitors to Columbus eating at the hometown steakhouse, they will eat in the chain that they also ate at…in Austin, and Houston and Chicago, etc. Nothing unique about Columbus.

    I am starting to feel as though I would like to see local businesses become successful….but not TOO successful….because then they will cease to be local businesses. And all we will be left with is Anytown, USA. The only thing that will differentiate one town from another are the coordinates on the map and the temperature in December.

  • Roland

    Ndcent wrote When I heard this on the news the drama surrounding this was “what will people do with their gift cards!? AHHH!!!”

    This is why I hardly ever watch the news.

    So funny and ridiculous. I was home sick yesterday and I’m watching a lot more TV then usual. The news comes on, and I’m constantly flipping through all the local news to hear something interesting. It was all crap!

    And those news commercials screaming about how your house is going to burn down. Give me a break.

  • Andrew Hall

    Ndcent wrote When I heard this on the news the drama surrounding this was “what will people do with their gift cards!? AHHH!!!”

    .

    Don’t mention gift card and CM restaurants in my presence.

    CM restaurants used to be examplars in customer service and in responding to complaints. You would get a response almost literally buy return mail. We used to get CM gift cards every year for employees for holidays. Then one year we ran into an absolute nightmare with their gift card company where they cancelled the order, wanted info above and beyond the usual cc info and we didn’t get the cards until after New Years. Wrote a letter of complaint to CM restaurants and never heard back.

    At that point, I knew CM restaurants had crossed the too-big-to-care threshold. Maybe this move will bring them back.

    A.

  • Anne

    cab124 wrote Seeing Mitchell’s on 3RD St., Downtown, change to just another Ruth’s Chris wouldn’t be the greatest. Instead of visitors to Columbus eating at the hometown steakhouse, they will eat in the chain that they also ate at…in Austin, and Houston and Chicago, etc. Nothing unique about Columbus.

    Hopefully eat across the street at Latitude 41! YUM!

  • luchobucho

    It seems like Cam had a lot of overlapping restaurants. It was like slight variations on steak, fish, italian, and american food. Maybe he’ll come up with some new. One can only hope.

    I constantly compare him to this guy from back home who had a pretty neat portfolio of restaurants, similar to Cam, but a little bit more diverse in its offerings.

    http://www.starr-restaurant.com

  • TimFitz

    I wish the rest of the citizens in town would wake up to the fact that CM restaurants really gave up on customer service and quality once they became the darlings of the media in Columbus. Since I’ve lived in town (2002) everything Mitchell does is practically gold according to the Dispatch/NBC/CBS/NPR and it was only a matter of time before he cashed in. It doesn’t matter if the food is surf, turf, Asian or Italian, people flock to it because it’s Mitchell’s. In the meantime, he’s waiting to make big money and retire and style.

  • shroud

    I can only speak for my own experiences, but I’ve never had anything less then phenomenal service at one of the “high end” CM places, like M, the new Ocean Club, the Fish Market or the Steakhouses.

    Cap City and Martini’s have been more “average”, Molly Woo’s trends below average, and I’ve only been to Marcella’s once, but the service was pretty rough.

  • ilovethiscity

    I have heard that Mitchell’s Steakhouse will not be rebadged as Ruth’s Chris. Also, as stated earlier it would be foolish to close the downtown Columbus steakhouse as it is certainly very profitable for the portfolio of Cameron Mitchell restaurants (now NASDAQ RUTH).

    A ‘still wet’ freshening up of the downtown dining room (new carpet, artwork, chairs) plus a new menu are in place for holiday wining and dining. Ruth’s Chris apparently liked what they saw and will certainly use their proven success and net worth to keep things lively in this town.

    The nearly christened Polaris Mitchell’s steakhouse location is very splashy. A 60″ plasma tv doubles as a mirror, wine divides rooms (I heard mention of temperature controlled wine as well wine snobs).

    The patio has an amazing fireplace with two stone fireplaces and lush landscaping surrounds. Picture holiday shopping at Sak’s and then drowing your holiday bill sorrows over juicy steak in new digs. Sounds good to me.

    Everyone, give a brother a chance. In order for Cameron Mitchell to have cashed in big on the Fish Market concepts (further enabling their growth as well) he had to sacrafice a few of his darlings. These are his Upper Arlington hometown grown babies, never to be forgotten. Will this mean the demise of Cameron’s Phoenix steakhouse plans?

    M may close but I wish he would stay and fight. Downtown is on the rise and I just love that building and the passion with which M exists. He could keep it and focus much attention on it.

    With a rumored $30-50 million being pocketed after debt and changes are cleared, Marcella’s (and Fish Markets) will be coming to a street corner near you.

  • enzo

    I was up in Worthington today and noticed the former Mitchell’s Steakhouse in Crosswoods is The Ballroom by Cameron Mitchell Catering but it had a big dumpster in front and I do not think it is open.

  • stoneschick84

    We had our company holiday party there. They’re not open regularly, but they still cater private parties in there.

  • Walker

    Business First wrote Ruth’s Chris closes deal for Mitchell’s Fish Markets

    Tuesday, February 19, 2008

    Ruth’s Chris Steak House Inc. has closed its $92 million acquisition of 22 restaurants from Cameron Mitchell Restaurants LLC.

    The deal with Heathrow, Fla.-based Ruth’s Chris, originally announced in November, includes 19 Fish Markets, two Mitchell’s Steakhouses and one Cameron’s Steakhouse.

    READ MORE

  • daniel

    Walker wrote
    Business First wrote Ruth’s Chris closes deal for Mitchell’s Fish Markets

    Tuesday, February 19, 2008

    Ruth’s Chris Steak House Inc. has closed its $92 million acquisition of 22 restaurants from Cameron Mitchell Restaurants LLC.

    The deal with Heathrow, Fla.-based Ruth’s Chris, originally announced in November, includes 19 Fish Markets, two Mitchell’s Steakhouses and one Cameron’s Steakhouse.

    READ MORE

    an average of almost 4.2 million dollars a restaurant.

    Not too shabby Mr Mitchell.

    BTW. His wife was my high school sophomore English teacher.

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