M&A Deal Summary

Darden Acquires Ruth s Hospitality Group

On May 3, 2023, Darden acquired restaurant Ruth s Hospitality Group for 715M USD

Acquisition Highlights
  • This is Darden’s 4th transaction in the Restaurants sector.
  • This is Darden’s 2nd largest (disclosed) transaction.
  • This is Darden’s 4th transaction in the United States.
  • This is Darden’s 2nd transaction in Florida.

M&A Deal Summary
Date 2023-05-03
Target Ruth s Hospitality Group
Sector Restaurants
Buyer(s) Darden
Deal Type Add-on Acquisition
Deal Value 715M USD

Target

Ruth s Hospitality Group

Winter Park, Florida, United States
Ruth's Hospitality Group is an American restaurant company that owns and operates several upscale dining establishments across the United States and internationally. The company is best known for its flagship brand, Ruth's Chris Steak House, which specializes in high-quality steaks, seafood, and other classic American fare. With over 150 locations in various countries, Ruth's Hospitality Group has built a reputation for providing a luxurious and welcoming dining experience, with an emphasis on personalized service and attention to detail. In addition to its flagship brand, the company also operates other fine dining concepts, such as Mitchell's Fish Market and Eddie V's Prime Seafood, catering to a diverse range of tastes and preferences. Ruth's Hospitality Group was founded in 1965 and is based in Winter Park, Florida.

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Buyer(S) 1

Buyer

Darden

Orlando, Florida, United States
Category Company
Founded 1968
Sector Restaurants
Employees177,895
Revenue 10.5B USD (2023)
DESCRIPTION
Entrance to Darden's corporate headquarters in Orlando, Florida.
Entrance to Darden's corporate headquarters in Orlando, Florida.

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.

DEAL STATS #
Overall 4 of 4
Sector (Restaurants) 4 of 4
Type (Add-on Acquisition) 4 of 4
State (Florida) 2 of 2
Country (United States) 4 of 4
Year (2023) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-27 Cheddar’s Casual Cafe

Irving, Texas, United States

Cheddar’s Casual Cafe, Inc. is a multi-concept casual dining restaurant company offers appetizers, salads, soups, burgers, sides, sandwiches, steaks, ribs, desserts, and entrees; and beverages, such as sweet tea vodkas, amaretto, lemonades, landslide martinis, spicy mango mojitos, margaritas, and fruit infused teas.

Buy $780M
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