McCormick & Schmick's
| Company type | Subsidiary |
|---|---|
| Industry | Restaurant |
| Founded | 1979 in Portland, Oregon, United States |
| Founder | Bill McCormick, Douglas Schmick |
| Headquarters | Houston, Texas , United States |
Area served | United States, Canada |
Key people | Tilman J. Fertitta (owner) |
| Products | Seafood dining, catering |
| Parent | Landry's, Inc. |
McCormick & Schmick's Seafood Restaurants Inc. is a U.S.-based seafood dining chain that was originally headquartered in Portland, Oregon. As of December 2024, the company manages 20 restaurant sites and a catering division within the United States, along with four additional outlets in Canada operating under the Boathouse brand. Since January 2012, it has functioned as a subsidiary of Landry's, Inc., with oversight provided by Landry's corporate office located in Houston, Texas.
History
The origins of the company trace back to the 1970s when Bill McCormick purchased Jake's Famous Crawfish, a well-established restaurant in Portland. In 1974, he joined forces with Douglas Schmick to create Traditional Concepts, which led to the debut of the first McCormick & Schmick's location in 1979, housed in Portland’s Henry Failing Building.
In February 1997, Apple South acquired the enterprise for $53 million. The company went public in 2004 through an initial public offering, and by 2009 had expanded to nearly 100 establishments across the United States and Canada. That same year witnessed the closure of the original Portland restaurant. The chain earned recognition for its popular happy hour offerings and its signature half-pound cheeseburger, which has been priced at $2.95 since 2009, solidifying its position in the market.
In April 2011, Tilman J. Fertitta, who was already the largest individual shareholder with less than a 10% stake, proposed purchasing the company at $9.25 per share—a price representing a 30% premium over the current market value. The board agreed to an offer of $8.75 per share in November 2011, with the transaction completed by January 2012. Following this acquisition, McCormick & Schmick's was removed from NASDAQ trading and incorporated into Landry's Restaurants operations, although Fertitta planned to retain some operational presence in Portland.
See also
External links
- Articles with short description
- Companies based in Portland, Oregon
- Seafood restaurants in the United States
- Private equity portfolio companies
- Restaurants established in 1979
- 1979 establishments in Oregon
- Restaurants in Portland, Oregon
- Oyster bars
- American companies established in 1979
- 2012 mergers and acquisitions
- 5
- Companies of the United States by year of establishment