Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Feb. 3, 12:16 PM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #85. Darden Restaurants, Inc. — Yard House USA, Inc.
Acquirer:
Darden Restaurants, Inc. (NYSE:DRI)
Acquiree:
Yard House USA, Inc.
Details:
Darden Restaurants, Inc. announced that it has completed the acquisition of Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC, management and investors. This follows the agreement that was announced on July 12, 2012. The total transaction price includes approximately $30 million of cash tax benefits that are expected to be realized by Darden in fiscal 2013 and fiscal 2014.
Darden Restaurants is a restaurant company. Co. owns and operates restaurants through subsidiaries in the U.S. and Canada under several trademarks. Co. has four reportable segments: Olive Garden, which is a dining Italian restaurant operator; LongHorn Steakhouse, which is a steakhouse restaurant brand with locations primarily in the eastern U.S.; Fine Dining, which includes The Capital Grille and Eddie V's, both are fine dining restaurant brands with locations in main metropolitan cities in the U.S.; and Other Business, which includes the following restaurant brands, Cheddar's Scratch Kitchen, Yard House, Bahama Breeze, Seasons 52, and The Capital Burger.
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Avg. Broker Rec.
 
|
Buy (3.40 out of 4) 51st percentile
(ranked higher than approx. 51% of all stocks covered)
Analysts' Target Price: DRI Stock Forecast Based on Zacks ABR data; powered by Xignite |
