June 6, 2017
Darden Restaurants To Host Fiscal 2017 Fourth Quarter Conference Call On June 27
Darden Restaurants, Inc. , (NYSE: DRI) plans to release its fiscal 2017 fourth quarter financial results before the market opens on Tuesday, June 27, 2017 , with a conference call to follow at 8:30 am ET . Gene Lee , CEO, and other senior management will discuss fourth quarter results and conduct a question and answer session. For those who cannot listen to the live broadcast, a replay will be available shortly after the call. What: Darden Restaurants, Inc. Fiscal 2017 Fourth Quarter Earnings Conference Call When: 8:30 am ET, Tuesday, June 27, 2017 Where: https://www.webcaster4.com/Webcast/Page/1007/21365 How: Live over the Internet – Simply log on to the web at the address above or, to access via the telephone, dial 1-800-369-1837 and enter passcode 5049489 to join the call. About Darden Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52,...
April 24, 2017
Darden Restaurants Completes Acquisition Of Cheddar's Scratch Kitchen
Darden Restaurants, Inc. (NYSE:DRI) today announced that it has completed the acquisition of Cheddar's Scratch Kitchen (Cheddar's) for $780 million in an all-cash transaction from its stockholders including private equity firms L Catterton and Oak Investment Partners . This follows the agreement that was announced on March 27, 2017 . The transaction price is subject to customary post-closing adjustments. Darden also paid $10 million for certain Cheddar's transaction-related tax attributes and reimbursed its equityholders for pre-closing capital expenditures on new restaurants under development. Darden funded the acquisition with the proceeds of a $500 million offering of 3.850% senior notes due 2027, which were issued on April 18, 2017, together with cash on hand. With the acquisition now complete, Cheddar's joins Darden's portfolio of differentiated brands which also includes Olive Garden , LongHorn Steakhouse , Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's....
March 27, 2017
Darden Restaurants Agrees To Acquire Cheddar's Scratch Kitchen For $780 Million; Adds A Casual Dining Value Leader To Darden's Portfolio Of Differentiated Brands
Darden Restaurants, Inc. (NYSE: DRI) today announced that it has agreed to acquire Cheddar's Scratch Kitchen (Cheddar's) for $780 million in an all-cash transaction from its stockholders including private equity firms L Catterton and Oak Investment Partners . Cheddar's will add to Darden's portfolio of differentiated brands which currently includes Olive Garden , LongHorn Steakhouse , Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's. Cheddar's was founded in 1979 in Arlington, Texas and features high-quality, made-from-scratch food at compelling prices in a polished yet warm atmosphere. Today, Cheddar's has 165 locations, including 140 owned and 25 franchised, across 28 states with significant growth opportunities in new and existing markets and average annual restaurant volumes of $4.4 million. Transaction Highlights Darden has agreed to acquire Cheddar's for $780 million, subject to customary adjustments. Net of certain tax benefits estimated at approximately...