Olive Garden’s Parent Company Buys Competing Chain
Following what appeared to be a bleak business year for Darden Restaurants – the parent-company of Olive Garden and Red Lobster, things seem to be looking up. Darden Restaurants announced the agreement to purchase the Yard House chain for $585 million dollars in cash.
The chain, which was launched in 1996, now has 39 restaurants across 13 states. Yard House features a soundtrack of rock music and an energetic atmosphere.
If regulators agree, the deal would close this fall.