Golden Gate, a California-based private equity firm, purchased Red Lobster from Darden Restaurants in 2014 for $2.1 billion.
Outback Steakhouse parent Bloomin’ Brands Inc. Such pressures have hurt Olive Garden parent Darden Restaurants Inc., DRI 0.73% which also owns Red Lobster and Outback competitor LongHorn Steakhouse. Darden’s business has fluctuated over the past year as it deals with higher food costs and tougher competition.
As of April 2017, the firm owns two fine dining restaurant chains: Eddie V’s Prime Seafood and The Capital Grille; and six casual dining restaurant chains: Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, Yard House and Cheddar’s Scratch Kitchen. Until July 28, 2014, Darden also owned Red Lobster .
Red Lobster being sold for $2.1 billion .
According to the corporate website Darden gift cards may be redeemed at any Olive Garden , LongHorn Steakhouse, Bahama Breeze, Seasons 52, Yard House, Red Lobster or any other Darden restaurant in the U.S.
Burger King announced in August 2020 that “several hundred” locations are expected to close. Burger King reported plans to close up to 250 restaurants in 2019, with closures coming into effect this year and over the next few years.
Olive Garden parent sells Red Lobster (AP) — Darden Restaurants said it will sell its Red Lobster chain to investment firm Golden Gate Capital for $2.1 billion. The company, which also owns Olive Garden , announced late last year that it planned to spin off or sell Red Lobster to improve its financial performance.
Olive Garden gift cards can be redeemed at any Darden restaurant including LongHorn Steakhouse, Olive Garden , Bahama Breeze, The Capital Grille, Yard House, Eddie V’s or Seasons 52. Please note that lost or stolen gift cards will not be replaced.
If Darden focuses more on Longhorn Steakhouse, what would this mean for Outback Steakhouse, owned by Bloomin’ Brands (NASDAQ:BLMN), and Texas Roadhouse (NASDAQ:TXRH)? Longhorn Steakhouse was purchased by Darden Restaurants in 2007. Darden has about 464 Longhorn Steakhouse locations.
Out of this environment emerged three American casual dining giants: TGI Fridays ($PRIVATE:TGIFRIDAYS), owned by private investment firm Sentinel Capital Partners, Chili’s ($EAT), owned by Brinker International, and Applebee’s ($DIN), owned by Dine Brands Global.
In fact, some people classify Olive Garden as fine dining(although it is far from it). Olive Garden is a bad restaurant because most of their food is not really classic Italian food. In addition, most of their food is prepared at a factory and is simply reheated. Thus, their food is rarely fresh.
Olive Garden is an American casual dining restaurant chain specializing in Italian- American cuisine. It is a subsidiary of Darden Restaurants, Inc., which is headquartered in Orange County, Florida. Olive Garden .
|Type||Wholly owned subsidiary|
|Parent||General Mills (1982–1995) Darden Restaurants (1995–present)|
Here are a few things you should know before you make your next reservation. Some of the food is frozen . Olive Garden is fast-casual dining, so it’s not exactly surprising that some of their food is frozen before being sent out to you. In one Reddit AMA, a former employee wrote, “The food is mostly frozen .