Houston Rockets owner buys food delivery service for $308 million

Business


Billionaire restaurant owner Tilman Fertitta didn’t think ordering in would be a lasting trend.

But the CEO and chairman of Landry’s Restaurants told CNBC that he’s been “converted.”

“We’re in a different world today,” Fertitta said on “Power Lunch” Thursday. “I think people started realizing, ‘Why am I not just ordering food from my favorite restaurant and having it delivered?'”

But he’s not just ordering delivery. He’s getting into the business as well.

On Wednesday, Landcadia Holdings, Fertitta’s company, announced it was buying Waitr, a food delivery startup, for more than $308 million.

“The consumer tells us what to do,” said Fertitta, who also owns the NBA‘s Houston Rockets. “The companies that don’t do what the consumer tells them are the companies that aren’t here again in a few years.”

Waitr, which was founded in 2013, is a private company based in Louisiana. The company works with more than 5,000 restaurant partners in more than 200 cities in the southeastern United States. Consumers can order delivery or carryout from local restaurants by way of the Waitr app.



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