All Posts Tagged Tag: ‘Darden Restaurants’

Red Lobster Chain Sold For $2.1 Billion

Darden Restaurants, Inc., based out of Orlando, Florida, announced yesterday that they would be selling the struggling seafood chain Red Lobster to Golden Gate Capital for $2.1 billion. Darden owns several other chains including: Olive Garden, LongHorn Steakhouse, and Capital Grille. They revealed their plans to sell Red Lobster back in December after their sales dropped significantly. The Lead Director …

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Red Lobster Sold For $2.1 Billion

Darden Restaurants, the parent company behind restaurants such as Olive Garden and LongHorn Steakhouse, today announced that it has sold Red Lobster. Ownership of the seafood restaurant will be transferred to private equity firm Golden Gate Capital for $2.1 billion. The deal includes around $1.6 billion in cash. Darden stated that $1 billion of the cash will go straight to …

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Red Lobster Closing Rumors Put to Bed

It looks like Red Lobster fans can relax, just a little. Despite rabid internet rumors that the seafood chain is closing down, owner Darden Restaurants Inc., claim otherwise. The rumors started a few days ago when LA Weekly posted an article about the uncertain future of Red Lobster. The article was subsequently edited because it did not get all the …

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Red Lobster Denies Closing Rumors

Rumors have been swirling recently that Darden Restaurants, Inc., an Orlando-based Fortune 500 company that owns the seafood restaurant chain Red Lobster, will be closing the popular eatery’s doors in 2014. Now, those rumors have been addressed and squashed by Darden executives. An annual earnings report released earlier this month indicated that the company would soon be indefinitely closing the …

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