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Slide #85. Darden Restaurants, Inc. — Yard House USA, Inc.
Darden Restaurants, Inc. (NYSE:DRI)
Yard House USA, Inc.
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 United States and Canada under the Olive Garden®, LongHorn Steakhouse®, Cheddar's Scratch Kitchen®, Yard House®, The Capital Grille®, Seasons 52®, Bahama Breeze® and Eddie V's Prime Seafood® trademarks. Co. has four reportable segments: Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille and Eddie V's) and Other Business (which includes Cheddar's Scratch Kitchen, Yard House, Bahama Breeze, Seasons 52 and results from its franchise operations).
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Buy (3.17 out of 4)
(ranked lower than approx. 54% of all stocks covered)
Based on Zacks ABR data;
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