Darden Restaurants Acquires Ruth's Chris Steak House for $715M
TL;DR Summary
Darden Restaurants is acquiring Ruth's Chris Steak House for $715 million, including all outstanding shares at a 34% premium. Ruth's Chris has 154 locations worldwide, including 80 company-owned or -operated restaurants and 74 franchised restaurants. The pandemic hit the company hard, causing it to close 23 restaurants and furlough workers. Darden CEO Rick Cardenas said Ruth's Chris is a strong and distinctive brand in the fine dining segment.
Topics:business#acquisition#business#darden-restaurants#fine-dining#pandemic#ruths-chris-steak-house
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