McCormick & Schmick's
Encyclopedia
McCormick & Schmick's Seafood Restaurants is an American
seafood restaurant chain, based in Portland
, Oregon. Founded in 1979, the publicly-traded company operates a total of 92 locations in North America under various brands. This includes seven Canadian locations that operate under the Boathouse name and 85 locations in the United States. McCormick & Schmick's is in the process of being acquired by the parent company of Landry's Restaurants
and will be merged into that conglomerate
.
's purchase of Jake's Famous Crawfish
, a 100-plus year-old restaurant in Portland, Oregon
. McCormick hired Douglas Schmick for management, and the two formed Traditional Concepts in 1974, the precursor to the McCormick & Schmick's restaurants.
The original McCormick & Schmick's restaurant was opened in 1979 in Portland. This 9400 ft2 location in downtown was located in the Henry Failing Building
. In 2004, the company became a publicly traded company after an initial public offering
. As of 2009, there are almost 100 restaurants and catering locations in the United States and Canada. In June 2009, the company closed the original location in Portland. The chain is famous for its generous happy hour, and its landmark $1.95 half-pound cheeseburger. The price was changed to $2.95 in the spring of 2009.
On April 4, 2011, Tilman J. Fertitta
, who was already the company's single largest individual shareholder, made a bid to take McCormick & Schmick's private, offering $9.25 per share for the company's outstanding shares, a 30 percent premium over its April 1st closing price. An offer of $8.75 per share was accepted by McCormick & Schmick's board in November 2011, with the purchase expected to be completed by January 2012. Operations will be merged into Landry's Restaurants
, though Feritta expects to "keep some sort of an office in Portland."
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
seafood restaurant chain, based in Portland
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
, Oregon. Founded in 1979, the publicly-traded company operates a total of 92 locations in North America under various brands. This includes seven Canadian locations that operate under the Boathouse name and 85 locations in the United States. McCormick & Schmick's is in the process of being acquired by the parent company of Landry's Restaurants
Landry's Restaurants
-External links:*...
and will be merged into that conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
.
History
The company dates its roots back to the 1970s, with Bill McCormickWilliam McCormick
William P. McCormick is an American businessman and diplomat. He served as the United States ambassador to New Zealand and Samoa from October 21, 2005 until January 10, 2009...
's purchase of Jake's Famous Crawfish
Jake's Famous Crawfish
Jake's Famous Crawfish is a seafood restaurant in Portland, Oregon, founded in 1892 by Jacob "Jake" Lewis Freiman.-History:In 1972, William "Bill" McCormick purchased Jake's Famous Crawfish and hired Doug Schmick as his manager...
, a 100-plus year-old restaurant in Portland, Oregon
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
. McCormick hired Douglas Schmick for management, and the two formed Traditional Concepts in 1974, the precursor to the McCormick & Schmick's restaurants.
The original McCormick & Schmick's restaurant was opened in 1979 in Portland. This 9400 ft2 location in downtown was located in the Henry Failing Building
Failing Office Building
The Failing Office Building is a building in downtown Portland, Oregon, United States that was listed on the National Register of Historic Places on October 31, 2007. The building was built during the rapid growth in Portland's business district after the Lewis and Clark Centennial Exposition in...
. In 2004, the company became a publicly traded company after an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
. As of 2009, there are almost 100 restaurants and catering locations in the United States and Canada. In June 2009, the company closed the original location in Portland. The chain is famous for its generous happy hour, and its landmark $1.95 half-pound cheeseburger. The price was changed to $2.95 in the spring of 2009.
On April 4, 2011, Tilman J. Fertitta
Tilman J. Fertitta
Tilman Joseph Fertitta is an American businessman and the founder, chairman of the board, President, CEO and primary shareholder of Landry's Restaurants...
, who was already the company's single largest individual shareholder, made a bid to take McCormick & Schmick's private, offering $9.25 per share for the company's outstanding shares, a 30 percent premium over its April 1st closing price. An offer of $8.75 per share was accepted by McCormick & Schmick's board in November 2011, with the purchase expected to be completed by January 2012. Operations will be merged into Landry's Restaurants
Landry's Restaurants
-External links:*...
, though Feritta expects to "keep some sort of an office in Portland."
Management
- Chairman - Doug Schmick
- CEO - William Freeman (as of January 2009)
- CFO and Secretary - N/A
- Executive Vice President of Operations - Michael Liedberg
- Honorary board member - Bill McCormick