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Century-Old New Orleans Icon Changes Ownership

Big news out of the Big Easy, where landmark restaurant Galatoire’s—est. 1905; James Beard Outstanding Restaurant, 2004—has sold off its majority stake in a deal that being estimated at approximately $11 million. Until this week, the Creole-Cajun cuisine icon had been owned and operated by a group of more than 30 descendants of founder Jean Galatoire for the last century, but now the majority stake has been sold to local businessman and New Orleans mayoral candidate John Georges. Georges has no prior restaurant ties, but five family members will still retain minority ownership.
· Galatoire's restaurant changing hands as part of multi-million dollar deal [WWLTV]
[Photos: Flickr]

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