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Ruth’s Hospitality Group, Inc (RUTH) Continues to Sizzle with a New Corporate Name

Today marks the corporate name change of Ruth’s Chris Steak House to Ruth’s Hospitality Group, Inc. The new name is designed to reflect the expanded focus of the business within the upscale dining sector. This name change was necessary because of the acquisition of 19 Mitchell’s/Columbus Fish Markets and three Mitchell’s/Cameron’s branded steakhouses. These acquisitions provide Ruth’s the opportunity to broaden their market share in the high-end restaurant market.

Ruth’s Hospitality group began in 1965 when Ruth Fertel purchased a small restaurant at the corner of Broad and Ursuline streets in New Orleans. She did this by mortgaging her home so she could take a chance on success in the competitive restaurant industry. The name of the restaurant purchased was Chris Steak House. From a single location grew a chain, which today numbers over 140 locations. These locations are company or franchisee-owned.

Ruth’s Hospitality Group has their headquarters in Heathrow, Florida. Their Ruth’s Chris Steak House’s specialize in USDA Prime Grade steaks served in their signature “sizzling” way. The company has eleven international franchisee-owned restaurants in Mexico, Hong Kong, Taiwan, Tokyo, and Canada.

In 1976, a fire destroyed the original Chris Steak House in New Orleans. Ruth Fertel proceeded to purchase a new property a few blocks away and renamed it Ruth’s Chris Steak House. She did this because the original owner of the restaurant had a contract stipulation that she could not use the name Chris Steak House in another location. Here, she continued to serve quality steaks to her clientele.

In 1976, the first Ruth’s Chris Steak House franchise opened in Baton Rouge, Louisiana. In 1977, more opened as friends and associates expressed interest in operating franchises under her banner. The 1980’s saw continued expansion for the company. Ruth Fertel passed away in 2002 at the age of 75, after a productive life as a restaurant entrepreneur. She was the recipient of many awards for her achievements.

In August of 2005, Ruth’s Chris Steak House went public. Their IPO was 13,000,000 shares of common stock for $18.00. Today, they continue to sizzle with expansion plans and commitment to offering their customers top-of-the line food in elegant dining settings.

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