Darden Mergers and Acquisitions Summary

RestaurantsCompany

Darden has acquired 3 companies, including 1 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 2 assets.

Darden’s largest acquisition to date was in 2017, when it acquired Cheddar’s Casual Cafe for $780M. It’s largest disclosed sale occurred in 2014, when it sold Red Lobster Hospitality to Golden Gate Capital for $2.1B. Darden has acquired in 3 different US states. The Company’s most targeted sectors include restaurants (67%) and food (34%).

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M&A Summary

  • M&A Total Activity5
    • M&A Buy Activity3
    • M&A Sell Activity2
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 5
  • M&A Advisors 4

Darden

Darden Restaurants, Inc.

1000 Darden Center Drive,
Orlando, Florida 32837
United States,
(407) 245-4000
www.darden.com

Darden is a large full-service restaurant company that owns and operates more than 2,100 restaurants. Darden is recognized for a culture that rewards caring for and responding to people. Darden's restaurants includes Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House. Darden was formed in 1968 and is based in Orlando, Florida.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.2/yr) # 2 1 - - - - 3
vol $585M $780M $1.4B
Sell (0.0/yr) # 2 - - - - - 2
vol $2.2B $2.2B
  5

Most Recent M&A

Company Date Value Type
Cheddar’s Casual Cafe, Inc. 2017-03-27 780M USD Add-on Acquisition
Irving, Texas · www.cheddars.com
Red Lobster Hospitality LLC 2014-05-16 2.1B USD Divestiture
Orlando, Florida · www.redlobster.com
Yard House USA, Inc. 2012-08-29 585M USD Add-on Acquisition
Irvine, California · www.yardhouse.com
Wildfish Seafood Grille restaurant brands/Eddie V's 2011-10-12 - Add-on Acquisition
Scottsdale, Arizona
Smokey Bones Barbeque & Grill 2007-12-01 80M USD Divestiture
Greenwood, Indiana · www.smokeybones.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Restaurants 2 (67%) 1.4B (100%) 2 (100%) 2.2B (100%)
Food 1 (33%) - - -
Total 3 $1.4B 2 $2.2B

By Geo

State/Country Buy Value Sell Value
United States 3 1.4B 2 2.2B
  Texas 1 780M - -
  California 1 585M - -
  Arizona 1 - - -
  Indiana - - 1 80M
  Florida - - 1 2.1B
Total 3 $1.4B 2 $2.2B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
2
Bank of America Merrill Lynch (BofA Securities)
1
Legal Deals
Hunton & Williams LLP
2
Latham & Watkins
1

Deal Values

buy # Total
$100M to $1B 2 $1.4B
TOTAL $1.4B
Largest Cheddar’s Casual Cafe, Inc.
$780M (2017-03-27)
sell # Total
> $1B 1 $2.1B
< $100M 1 $80M
TOTAL $2.2B
Largest Red Lobster Hospitality LLC
$2.1B (2014-05-16)

M&A Connections

Deals
Acquired from
Investor(s)
67%
2 (67%)
Strategic(s)
33%
1 (33%)
Divested to
Investor(s)
100%
2 (100%)

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