Restaurant News Aritcle

York Capital Management has signed a definitive agreement to buy the parent company of Houlihan’s, the Leawood, Kan.-based restaurant operator said Monday. York is buying Houlihan’s Restaurants Inc. from a subsidiary of Goldner Hawn Johnson & Morrison. Terms were not disclosed, but HRI said the transaction was expected to close in December.

Restaurant veteran Michael Archer is investing along with York, and will become the company’s CEO. Archer has previously served of president of Applebee’s, TGI Fridays and Morton’s The Steakhouse, and chief operating officer of Sullivan’s Steakhouse and Del Frisco’s Double Eagle Steakhouse. Current HRI chairman and CEO Bob Hartnett will leave his post, but will remain involved in the company as a consultant.