darden restaurants

Darden Restaurants Completes Acquisition of Ruth’s Hospitality Group

by Katie Lee June 16, 2023

Orlando, Fla. — Darden Restaurants, Inc. has completed its acquisition of Ruth’s Hospitality Group, Inc. The Ruth’s Chris Steak House brand now joins and complements Darden’s portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s and Bahama Breeze. Ruth’s Chris has 155 locations around the globe, including 81 company-owned or company-operated restaurants and 74 franchised restaurants. The $715 million acquisition was completed on June 14, 2023. Following the consummation of the merger, Ruth’s became an indirect, wholly …

June 16, 2023

Panera Brands Establishes Next Generation of Leadership

by Katie Lee May 25, 2023

St. Louis — Panera Brands Inc., which includes the fast-casual and hospitality brand Panera Bread as well as Einstein Bros. Bagels and Caribou Coffee, has established its next generation of CEO leadership and board governance in preparation for its eventual IPO. Current CEO Niren Chaudhary will become chairman of Panera Brands, handing the CEO reins to José Alberto Dueñas, currently president and CEO of Einstein Bros. Bagels, effective July 1, 2023. Former Starbucks CFO and independent director Patrick Grismer will become chairman of the audit committee. Over the last 4 …

May 25, 2023

franchise development News restaurants

Darden Restaurants to Acquire Ruth’s Hospitality Group in $715 Million Transaction

by Katie Lee May 3, 2023

Orlando, Fla. — Darden Restaurants, Inc. and Ruth’s Hospitality Group, Inc. have entered into a definitive merger agreement in which Darden will acquire all of the outstanding shares of Ruth’s in an all-cash transaction with an equity value of approximately $715 million. Ruth’s, owner and operator of Ruth’s Chris Steak House, will complement Darden’s portfolio of differentiated brands which currently includes Olive Garden, LongHorn Steakhouse, Yard House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. Ruth’s Chris was founded in 1965 in New Orleans by …

May 3, 2023

News people restaurants

Steele Brands Names Restaurant Operations Leader as CEO of Steele Brands Management

by Katie Lee November 9, 2022

Minneapolis — Steele Brands, a Minnesota-based company developing healthy lifestyle brands including Crisp & Green, Stalk & Spade and Paco & Lime, has named restaurant industry leader Kelly C. Baltes as chief executive officer of its brand development company, Steele Brands Management. Baltes has over 28 years of restaurant industry leadership experience in both founder-led and private-equity brands. In his most recent role as president of Maggiano’s Little Italy, Baltes provided strategic and operational guidance to refresh the brand experience, improve guest metrics and develop the business model to unlock …

November 9, 2022

Industry Content roofing Vendor Spotlight vendors

CP Rankin Roofing Experts: Signature Vendor Spotlight

by Katie Lee February 3, 2022

— Interview with Michelle Grojean — R&R: Where are you based and how long has the company been in business? Michelle Grojean: CP Rankin is headquartered in Chalfont, Pennsylvania, flexing roughly 25 years of commercial roofing experience. R&R: What is your name and title, and how long have you been with the company? Grojean: Michelle Grojean, director of marketing, 1 year. R&R: What trades/services do you offer retailers and restaurants? Grojean: Roof replacement, new construction, routine leak service, 24-hour emergency response, snow removal programs, hurricane recovery, retrofit systems, flute …

February 3, 2022

News people restaurants

Darden Restaurants Announces Upcoming CEO Transition

by Katie Lee December 20, 2021

Orlando, Fla. — Darden Restaurants, Inc. has announced that Eugene (Gene) I. Lee, Jr., chairman and chief executive officer, will retire as CEO effective May 29, 2022. Lee will continue to serve on Darden’s board of directors as executive chairman until the 2022 Annual Meeting of Shareholders. At that time, Lee is expected to stand for re-election to the board and continue to serve as chairman in a non-executive capacity. The board has unanimously elected Ricardo (Rick) Cardenas, Darden’s current president and chief operating officer, as chief executive officer, as …

December 20, 2021

News restaurants

Darden Restaurants Reports 28.4% Slide in Fiscal First-Quarter Sales

by Katie Lee September 25, 2020

Orlando, Fla. — Darden Restaurants Inc. has reported its sales fell 28.4% in its fiscal first quarter, which ended Aug. 30. The Orlando, Fla.-based company owns restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. Darden reported that sales in its fine dining restaurants fell 38.9% year-over-year. Sales at Olive Garden slid 27.7%, while LongHorn saw a decrease of 16.3%. At the beginning of its first quarter, Darden had 68% of restaurants in its portfolio open, compared …

September 25, 2020

construction and design News

Englewood Construction Chosen For 7 Retail/Restaurant Projects

by Katie Lee November 13, 2017

Chicago — Englewood Construction has begun construction on two Outback Steakhouse restaurants in Illinois, and has recently completed an Olive Garden Italian Restaurant in Utah. The national general contractor has also completed a new Trader Joe’s in Iowa (pictured here), and started interior remodeling projects for three test kitchens and training facilities for US Foods in California, Arizona and Maryland.

November 13, 2017

News restaurants

Darden Restaurants To Acquire Cheddar’s Scratch Kitchen for $780 Million

by Katie Lee March 28, 2017

Orlando, Fla. — Darden Restaurants, Inc. has agreed to acquire Cheddar’s Scratch Kitchen (Cheddar’s) for $780 million in an all-cash transaction. Cheddar’s will add to Darden’s portfolio of differentiated brands, which currently includes Olive Garden, LongHorn Steakhouse, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s.

March 28, 2017