🠈 Ruth's Chris Steakhouse 🠊
Ruth's Chris Steakhouse
Ruth's Chris Steakhouse traces its history to 1965 when Ruth Ann Udstad purchased the Chris Steakhouse on the corner of Broad and Ursuline in New Orleans. Interestingly, the Chris Steakhouse had opened on the very day that Ruth was born on February 5, 1927.
The steakhouse weathered hurricanes and other challenges. In 1976, a fire destroyed the original location. As there were restrictions on the name "Chris Steakhouse," Ruth named the new location Ruth's Chris Steakhouse. Shortly thereafter, Ruth gave into friends and business associates who wanted to franchise her restaurant idea and bring good food and hospitality to other corners of the world.
Two weeks before Hurricane Katrina struck New Orleans, the steakhouse Franchise went public on the NASDAQ with the corporate name Ruth's Hospitality Group Inc. and symbol RUTH. After the hurricane, the company moved its corporate headquarters to Orlando.
Ruth developed cancer in 1999 and passed away in 2002. The block below shows corporate events.
- 1927: Chris Steakhouse opened.
- 1965 Ruth Ann Udstad purchased Chris Steakhouse
- 1976: The first restaurant burnt down.
- 1976: Ruth opened first Ruth's Chris Steak House.
- 1977: Thomas J. Moran (c. 1931–2015) opened first franchise in Baton Rouge.
- 1999: Ruth was diagnosed with lung cancer.
- 1999: Madison Dearborn Partners acquired a 79.3% stake in the company.
- 2005: Ruth raises $235 million in an IPO with the symbol RUTH.
- 2005: Ruth moves headquarters to Florida after Hurricane Katrina.
- 2011: Ruth moved headquarters to Winter Park, Florida.
- 2008: company acquired Mitchell's Fish Restaurant and Columbus Fish Market from Cameron Mitchell Restaurants for $92 million.
- 2010: Bruckmann, Rosser, Sherrill & Co. acquired Ruth's.
- 2012: Ruth’s Hospitality repurchased its preferred stock $60.2 million transaction. BRS made 60% return on investment.
- 2014: Landry's, Inc. acquired Mitchell's Fish Market from Ruth's for $10 million.
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