Darden Restaurants, Inc. Announces Retirement of Board Chairman

Darden Restaurants, Inc.,  and Eugene I. Lee, Jr., Chairman of the Board of Directors of the Company, today announced that Mr. Lee has decided not to stand for reelection at the Company's 2023 Annual Meeting. Following the annual meeting, the Board will be comprised of nine members.

"Serving as Darden's CEO and as a member and Chairman of the Board of Directors has been an honor," said Mr. Lee. "I am proud of what we have accomplished and believe that Darden is well-positioned to continue to grow and prosper for years...

Darden Restaurants Completes Acquisition of Ruth's Hospitality Group

Darden Restaurants, Inc., announced today that it has completed its acquisition of Ruth's Hospitality Group, Inc. ("Ruth's"). The Ruth's Chris Steak House brand now joins and complements Darden's portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V's and Bahama Breeze.

Ruth's Chris features signature USDA Prime steaks served sizzling on 500-degree plates, New Orleans-inspired sides and an award-winning wine list. Ruth's Chris has 155 locations around the globe, including 81 company-owned or company-operated restaurants...

FCPT Announces Agreement to Acquire Up to 14 Darden Restaurant Properties for $85 Million

Four Corners Property Trust , a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, is pleased to announce the signing of a definitive agreement to acquire up to 14 Darden restaurant properties (13 Cheddar's Scratch Kitchen properties and 1 Olive Garden property) for a purchase price of up to $85.0 million on initial cash rent of up to approximately $5.35 million.

The transaction is expected to close in the third quarter of...

Darden Restaurants Acquires Ruth's Hospitality Group for Over $700 Million

Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, has entered into a merger agreement with Ruth’s Hospitality Group.

The deal will see Darden acquire all the outstanding shares of Ruth’s for $21.50 per share in a fully-cash transaction with an equity value of approximately $715 million.

Darden said Ruth’s Hospitality Group, which owns and operates Ruth’s Chris Steak House, “will complement Darden's portfolio of differentiated brands which currently includes Olive Garden, LongHorn Steakhouse, Yard House...