SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 6, 1997
Morton's Restaurant Group, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 1-12692 13-3490-149
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
3333 New Hyde Park Road, New Hyde Park, New York 11042
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:(516) 627-1515
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
Morton's Restaurant Group, Inc. (the "Company") and Peasant Holding
Corp. ("Peasant"), a majority owned subsidiary of the Company, have
consummated the sale (i) to MRI Acquisition Corporation ("MRIAC") of 80.1% of
the outstanding shares of common stock of Mick's Restaurants, Inc. ("MRI"),
pursuant to a Stock Purchase Agreement with MRIAC dated as of December 31,
1996, and (ii) to PRI Acquisition Corporation ("PRIAC") of 80.1% of the
outstanding shares of common stock of The Peasant Restaurants, Inc. ("PRI"),
pursuant to a Stock Purchase Agreement with PRIAC dated as of December 31,
1996, for an aggregate of $6.8 million, consisting of $4.3 million in cash and
$2.5 million in the form of two unsecured promissory notes. The Company has
retained a 19.9% interest in MRI and PRI.
The complete text of the press release issued by the Company with
respect to such transactions is attached as an exhibit hereto and incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
99.1. Press Release, dated February 6, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
MORTON'S RESTAURANT GROUP, INC.
Dated: February 7, 1997 By: /s/ Thomas J. Baldwin
Thomas J. Baldwin
Executive Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit
No. Description of Exhibits
99.1 Press Release, dated February 6, 1997, by Morton's Restaurant Group, Inc.
EXHIBIT 99.1
From: SANFORD TELLER COMMUNICATIONS February 6, 1997
1365 York Avenue
New York, NY 10021
(212) 717-0332
For: MORTON'S RESTAURANT GROUP, INC. For Immediate Release
3333 New Hyde Park Road
New Hyde Park, NY 11042
(516) 627-1515
Contact: Thomas J. Baldwin, Executive Vice President, Finance and Chief
Financial Officer: Morton's Restaurant Group, Inc.
MORTON'S RESTAURANT GROUP, INC. COMPLETES SALE OF MICK'S RESTAURANTS,
INC. AND THE PEASANT RESTAURANTS, INC.
New Hyde Park, NY...Morton's Restaurant Group, Inc. (NYSE:MRG),
parent of Morton's of Chicago steakhouses and Bertolini's Authentic
Trattorias, today announced that it has completed the sale of its
Atlanta-based Mick's and Peasant restaurants. The company said that
MRI Acquisition Corporation has acquired an 80.1% interest in Mick's
Restaurants, Inc., and PRI Acquisition Corporation has acquired an
80.1% interest in The Peasant Restaurants, Inc. for an aggregate of
$6.8 million, consisting of $4.3 million in cash and $2.5 million in
the form of two unsecured promissory notes. Mick's Restaurants, Inc.
and The Peasant Restaurants, Inc. were wholly-owned subsidiaries of
Peasant Holding Corp., which is a majority-owned subsidiary of
Morton's Restaurant Group, Inc. Morton's Restaurant Group has
retained a 19.9% interest in Mick's and Peasant.
Allen J. Bernstein, chairman and chief executive officer of Morton's
Restaurant Group, Inc. said, "The completion of this sale is a major
step forward as we continue to grow our company on the solid
foundation of our two core fine-dining concepts, Morton's and
Bertolini's".
As previously reported, in conjunction with the sale, Morton's
Restaurant Group, Inc. will take a 1996 fourth quarter non-recurring,
pre-tax charge in the range of $9 to $12 million. Income tax
benefits will also be recognized during the 1996 fourth quarter.
Except for the historical information contained in this news release,
the matters addressed are forward - looking statements that involve
certain risks and uncertainties, including but not limited to,
general economic conditions, competitive activities, the company's
expansion plans and restaurant profitability levels and other matters
identified from time to time in the company's public reports and SEC
filings. Actual results may vary.
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