Wednesday, December 9, 2009

John Georges Announces Ownership of Galatoire's

Posted By on Wed, Dec 9, 2009 at 10:00 PM

Yesterday, news broke that Galatoire's Restaurant had changed hands, with Todd Trosclair, CEO of a large, LaPlace-based electrical contracting company, taking an ownership stake in the landmark Creole restaurant. Today, however, New Orleans businessman and mayoral candidate John Georges issued a statement announcing that with "the completion of his investment" in the restaurant he is now the "majority owner."

"While Georges will acquire the largest share, Trosclair will serve as chairman of the Board," the release reads.

Reached for comment this afternoon, Galatoire's chief operating officer Melvin Rodrigue said he was unaware of Georges' role in the deal.

"It's news to me, I don't know anything about it so I can't comment," Rodrigue said.

Yesterday, a release from Rodrigue and representatives from the restaurant's public relations firm announced that Trosclair, the CEO of All Star Electric Inc., had partnered with five members of the Galatoire family -- Leon Galatoire, Michele Galatoire, Duane Galatoire Attaway, Ashley Attaway and Craighten Attaway -- to purchase both the original Galatoire’s Restaurant and its spin-off, Galatoire’s Bistro in Baton Rouge. Galatoire's Restaurant, founded in 1905, had long been owned by a group of 32 Galatoire family members.

Yesterday's release stated that Galatoire family member David Gooch would also remain part of the New Orleans restaurant’s management team and that Rodrigue and executive chef Brian Landry would continue to handle daily management of both restaurants.

Today's announcement by Georges, however, introduces a new ownership structure, though it emphasizes that no changes are planned in management or daily operations.

"We have full faith and confidence in the management team lead (sic) by Melvin Rodrigue," Trosclair states in the release.

Here's the full release:

John Georges Becomes Majority Owner of Galatoire's

Tradition of Galatoire's Restaurant to Continue

New Orleans - New Orleans businessman John Georges announced the completion of his investment in one of New Orleans' most storied and successful icons.

Georges joined forces with members of the Galatoire family to ensure that this James Beard Award-winning restaurant remains a fabric of New Orleans history and culture.  Galatoire's has been open for over 100 years and has been awarded the restaurant industries highest awards.

Georges noted, "I am so pleased to announce that Galatoire's has been part of New Orleans and will remain part of New Orleans.  My respect for New Orleans traditions and my commitment to our future is emphasized by this investment.  People from across this city and from across the country love our city and I am dedicated to helping ensure our future however I can."

Georges has joined with businessman Todd Trosclair, however both stressed that they will not interfere with day-to-day management decisions or operations.  While Georges will acquire the largest share, Trosclair will serve as chairman of the Board.

Trosclair said, "We have no interest in recreating the wheel here.  If something is not broken, then why would we try to fix it?  Galatoire's is one of the leading restaurants in the world and we have full faith and confidence in the management team lead by Melvin Rodrigue."

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