With over 100 company-owned and franchised restaurants throughout the Eastern and Midwestern United States, RARE Hospitality International Inc. has a fast-growing presence in the steakhouse segment of the dining industry. This relative newcomer to the market--at scarcely 15 years in business, compared to such 1960s-era chains as Ponderosa and Bonanza--RARE's irreverent style of "cowboy cuisine" shook up the segment. By 1996, the company's core chain of LongHorn Steakhouses numbered 81 units. Following its initial public offering in 1992, the company acquired the Bugaboo Creek Steak House chain and its smaller The Capital Grille group of pricey eateries. Founder George W. McKerrow, Jr. continued to serve the company as chairman through the mid-1990s.