Darden Restaurants To Acquire Ruth'S Hospitality Group In $715 Million Transaction
05/03/23, 12:04 PM
Location
orlandoIndustry
hospitality
food and beverage
hospitality
food and beverage
Darden Restaurants, Inc. ("Darden") (NYSE:DRI) and Ruth's Hospitality Group, Inc. ("Ruth's") (Nasdaq: RUTH), jointly announced today that they have entered into a definitive merger agreement pursuant to which Darden will commence a tender offer to acquire all of the outstanding shares of Ruth's for $21.50 per share, in an all-cash transaction with an equity value of approximately $715 million. Ruth's, owner and operator of Ruth's Chris Steak House ("Ruth's Chris"), will complement Darden's portfolio of differentiated brands which currently includes Olive Garden, LongHorn Steakhouse, Yard House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's.
Company Info
Location
Orlando, Florida, United States
Company info
Darden Restaurants, Inc. is a multi-brand restaurant operator in the United States and Canada. The company owns and operates various full-service restaurants under different brand names. Its restaurant brands include Olive Garden, LongHorn Steakhouse, Yard House, The Capital Grille, Seasons 52, Eddie V's, and Bahama Breeze.