Fortress Investment-backed SPB Hospitality completed the acquisition of J. Alexander's Holdings for $220m.

Fortress Investment-backed SPB Hospitality, an operator and franchisor of steakhouses, pizza and craft brewery restaurants, completed the acquisition of J. Alexander's Holdings, an operator of upscale restaurants, for $220m. "We are honored to acquire these storied brands and look forward to welcoming this experienced team into the SPB family. This acquisition advances our vision to become the industry leader and a pioneer of hospitality, while developing our portfolio of brands and delivering best-in-class returns, one great restaurant at a time," Jim Mazany, SPB Hospitality CEO.