Tilman Fertitta acquires The Palm steakhouse chain for $45M

HOUSTON – Houston restaurateur and owner of the Rockets Tilman Fertitta is adding another restaurant to the Landry’s Inc. empire.

Late on Wednesday Fertitta announced his company, Landry’s Inc., completed the acquisition for the Palm steakhouse chain from Just One More Restaurant Corp., which filed for bankruptcy protection in 2019.

The chain of fine-dining restaurants was purchased for $45 million, according to the Houston Business Journal.

The Palm, originally founded in New York City, has locations across many big cities in the U.S. and two restaurants in Mexico. The Palm in Houston is located across the street from The Galleria at 6100 Westheimer Road.

Fertitta’s acquisition now makes him the owner of the 21 Palm restaurants located in the U.S.