Who Owns Ruth's Chris Steak House?

Ruth's Chris Steak House was founded in 1965 by Ruth Fertel, a single mother and former laboratory technician in New Orleans, Louisiana. Fertel saw a newspaper advertisement for a restaurant called Chris Steak House, listed for sale at $22,000. She mortgaged her home to purchase it. Her bank initially refused to lend her the money, believing a woman with no restaurant experience could not succeed. She found another lender who agreed to the mortgage.

Fertel transformed the small restaurant through strict attention to quality. She focused on serving USDA Prime beef cooked at 1,800 degrees Fahrenheit and served on 500-degree plates with sizzling butter. This cooking method and presentation became the brand's signature. The sizzling plate keeps the steak hot throughout the meal, a practical innovation that differentiated Ruth's Chris from every other steakhouse.

When a fire destroyed the original location in 1976, Fertel was prohibited by her purchase agreement from using the Chris Steak House name at a new location. She solved this by adding her own first name, creating "Ruth's Chris Steak House." The unusual name has confused customers for decades, but it stuck.

The company began franchising in the 1970s. Growth was steady rather than explosive. Fertel insisted that franchisees maintain her exacting standards for beef quality, cooking temperature, and service. This insistence on consistency built brand equity over time.

Ruth Fertel remained actively involved in the business until her death in 2002 at age 75. Under her leadership, the chain grew from a single New Orleans restaurant to approximately 80 locations. The company went public in 2005 under the ticker RUTH on NASDAQ, raising capital for continued expansion.

After the IPO, Ruth's Chris expanded internationally, opening locations in Canada, Mexico, Asia, and the Middle East. The chain grew to approximately 150 locations worldwide, including both company-owned and franchised restaurants. The company also expanded its menu beyond steak, adding seafood, appetizers, and an extensive wine list.

The COVID-19 pandemic in 2020 hit Ruth's Chris hard. Fine dining restaurants depend on in-person service, and Ruth's Chris had limited takeout and delivery infrastructure. The company received a $20 million Paycheck Protection Program loan in April 2020, which drew public criticism because the program was intended for small businesses. The company returned the loan in May 2020 after facing backlash.

In June 2023, Darden Restaurants acquired Ruth's Chris Hospitality Group for approximately $715 million. The acquisition price of $21.50 per share represented a 34% premium over Ruth's Chris' closing price on May 2, 2023, the last trading day before the announcement. Darden funded the acquisition with cash on hand and a term loan.

Under Darden's ownership, Ruth's Chris has continued to grow. In fiscal 2025 (ended May 25, 2025), the brand operated 82 company-owned restaurants, up from 80 in fiscal 2024. Darden opened 3 new Ruth's Chris locations and closed 1 underperforming location during the fiscal year. The brand also has 74 franchised locations operated by independent third parties.