Colorado Rockies owner Dick Monfort is becoming a restaurateur – Denver Business Journal
Provided by Denver Rescue Mission
Dick Monfort was among the Denver-area business executives who served the homeless at the Denver Rescue Mission in 2013.
Dick Monfort, majority owner of the Colorado Rockies, is part of an investment group acquiring Romano’s Macaroni Grill.Macaroni Grill, which has locations in Aurora, Broomfield, Lakewood, Littleton and Greenwood Village, is changing hands for the fire-sale price of $8 million.Houston-based Ignite Restaurant Group Inc. (Nasdaq: IRG) bought the Macaroni Grill chain two years ago for $55 million. Ignite also owns the Joe’s Crab Shack and Brick House Tavern & Tap chains. Revenue for Macaroni Grill fell to $76 million in the third quarter, down from $87.4 million in the same period a year earlier.Monfort and two veterans of the restaurant industry formed a new company, Redrock Partners LLC of Scottsdale, Arizona, to buy the restaurant chain. The all-cash deal is expected to close within 30 days.Monfort’s partners in the new company are John Gilbert, president of Macaroni Grill for the past year; and Dean Riesen, who until last year was chairman of Famous Dave’s of America. Gilbert will serve as CEO of Macaroni Grill and serve on its board alongside Monfort and Riesen, who will be chairman.Monfort previously served on the Famous Dave’s of America board with Riesen.Redrock Partners isn’t disclosing what percentage of the limited liability company is owned by Monfort and his partners.Macaroni Grill has 146 locations in 33 states.
L. Wayne Hicks is associate editor of the Denver Business Journal, writes the “Cultural Attache” blog, and compiles the daily “Morning Edition” email. Phone: 303-803-9221.