New Owners (First And Second) Are Outside Family
Galatoire's Is Sold--Twice
The story of the sale of Galatoire's--which broke on my radio show Tuesday afternoon--became more surprising on Wednesday. The man who bought a majority interest in the place Tuesday turned around and sold most of his share again to local businessman and New Orleans mayoral candidate John Georges.
Part One: After months of legal maneuvering on the part of two factions of the big Galatoire family, the majority ownership of their iconic restaurant was bought by Todd Trosclair. That marks the first time someone outside the Galatoire family controlled the property. Their Wednesday morning press release said:
Galatoire family members Leon Galatoire, Michele Galatoire, Duane Galatoire Attaway, Ashley Attaway and Craighten Attaway have partnered with local businessman Todd Trosclair, to purchase Galatoire’s Restaurant in New Orleans and Galatoire’s Bistro in Baton Rouge. The acquisition was completed on Dec. 8, 2009.
“This is good news for our family, our company and our patrons,” said Duane Galatoire Attaway. “With this acquisition, we enter a new era that ensures the many Galatoire’s traditions started over 100 years ago by Jean Galatoire will continue through my generation and my children’s, Ashley and Craighten, the fifth generation of Galatoires.”
“My sister, Michele, and I are very excited about this announcement,” said Leon Galatoire. “This is truly a milestone in the history of our restaurant, and we welcome Todd into our family.”
Galatoire family member David Gooch will remain part of the restaurant’s management team. Melvin Rodrigue, chief operating officer of Galatoire’s Restaurant and Galatoire’s Bistro, and Executive Chef Brian Landry will continue to oversee the daily management of both Galatoire’s locations. No staff or menu changes are planned at either restaurant.
“We want our patrons to know they will continue to experience Galatoire’s as they always have,” Trosclair said. “Our focus on tradition and quality of food and service will remain, preserving the Galatoire’s that has been revered for nearly 105 years.”
The release doesn't go into the competition between two sides of the family to buy the restaurant. The negotiations were complicated by the fact that one faction of the family--led by Leon Galatoire--had the right of first refusal if any sale of the restaurant were made. But the original offer to buy was made by David Gooch and Melvin Rodrigue. So began a complicated round of legal moves.
Now we learn that John Georges bought most of Trosclair's chunk. Neither name is part of the Galatoire family, although they are partnered with the five Galatoires mentioned in the press release. They will retain minority ownership. It appears that David Gooch--a fourth-generation Galatoire family member, he has been active in the restaurant for decades--no longer owns a piece of the business, even though he will continue on in his present role. Very byzantine.
"No staff or menu changes are planned at either restaurant." We'll see. New owners always say stuff like that.