Galatoire's in New Orleans sells majority interest

AP News
Posted: Dec 09, 2009 6:55 PM

New Orleans landmark Galatoire's Restaurant is no longer solely owned by the founder's family.

The restaurant, which serves fine Creole cuisine in the city's French Quarter, announced Wednesday that majority ownership had been sold to businessmen Todd Trosclair and John Georges who have no previous restaurant ties.

Galatoire's, founded in 1905, had been owned and operated by a board made up of 32 descendants of founder Jean Galatoire. Five family members retain minority ownership.

One of the oldest restaurants in America, Galatoire's was named the country's outstanding restaurant by the James Beard Foundation in 2004.