Darden Restaurants, who own Olive Garden, Red Lobster, Seasons 52 and Capital Grille, have agreed to purchase Yard House for $585 Million in cash. Yard House currently has 39 location, so the deal amounts to $15 Million per restaurant; a hefty price tag. It's likely that Darden is buying into the potential of the brand's expansion.
Darden's profits have been pulled down by poor same-store sales from their low-end restaurants; Red Lobster and Olive Garden. I supposed people are figuring out that no matter how good the food looks on TV, eventually people wise up.
Yardhouse recently opened in Boca Raton in Mizner Plaza. Personally, I'm not a fan of any of Darden's Brands, except this one. I hope they don't mess it up.
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