Darden Restaurants Inc. completes several divestments and acquisitions
In early 2015, Darden Restaurants Inc. (Darden) agreed to sell its struggling Red Lobster brand to Golden Gate Capital for $2.1 billion; this deal was finalized in July 2015. In 2017, Darden purchased the brand Cheddar's Scratch Kitchen from a private equity firm. This acquisition adds Cheddar's to the company's portfolio of brands and has since increased Darden's total restaurant count by 165 locations. Cheddar's Scratch Kitchen prides itself on making all of its meals from scratch with quality ingredients. This strategy attracts customers by catering to a growing share of the population that has become increasingly health conscious. https://www.prnewswire.com/news-releases/darden-restaurants-completes-acquisition-of-cheddars-scratch-kitchen-300444276.html
COVID|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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