Hard Rock Restaurant Chain Sold to British Firm

Hard Rock International, owner of several trendy eateries that pay homage to rock ‘n’ roll and vintage American ‘50s diner food, is being sold for 63 million pounds, or about $107 million, to a British entertainment firm called Pleasurama PLC.

The sale does not include the Hard Rock Cafe in Los Angeles, which is owned by a separate corporation headed by restaurateur Peter Morton. Morton owns five other Hard Rock Cafes and is about to open another in La Jolla.

Morton and his partner at the time, Isaac Tigrett, opened the first Hard Rock Cafe in London in 1971. Now lines of customers can be found waiting at all hours to try the hamburgers and french fries at the many Hard Rocks scattered around the world.

The two subsequently dissolved their partnership, and each operates restaurants using the Hard Rock name.

The sale of Tigrett’s Hard Rock International, which is traded on the American and London stock exchanges, is “a friendly deal, and both boards agreed to it unanimously.” Hard Rock International operates or has interests in restaurants in eight cities including London, New York, Dallas, Tokyo and Reykjavik, Iceland.

Pleasurama runs hotels, casinos and other leisure operations in Europe and the United States.