Darden Restaurants To Acquire Ruth'S Hospitality Group In $715 Million Transaction
Acquiring Company
Darden Restaurants
Acquired Company
Ruth's Hospitality Group
OrlandoFood and BeverageHospitalityFood and BeverageFood And BeverageHospitalityDescription
Darden Restaurants, Inc. ("Darden") (NYSE:DRI) and Ruth's Hospitality Group, Inc. ("Ruth's") (Nasdaq: RUTH), jointly announced today that they have entered into a definitive merger agreement pursuant to which Darden will commence a tender offer to acquire all of the outstanding shares of Ruth's for $21.50 per share, in an all-cash transaction with an equity value of approximately $715 million. Ruth's, owner and operator of Ruth's Chris Steak House ("Ruth's Chris"), 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.
Quick answer
Darden Restaurants is acquiring Ruth's Hospitality Group for $715 million, announced May 3, 2023. Darden Restaurants is based in Orlando, Florida, United States.
- How much did Darden Restaurants pay for Ruth's Hospitality Group?
- The reported deal value is $715 million.
- What does Darden Restaurants do?
- Darden Restaurants, Inc. is a leading restaurant operating company specializing in casual and fine dining.
- Where are Darden Restaurants and Ruth's Hospitality Group based?
- Darden Restaurants is based in Orlando, Florida, United States.
- Who are the decision-makers at Darden Restaurants?
- Fundz holds 1 contact at Darden Restaurants. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Ruth's Hospitality Group?
Ruth's Hospitality Group was acquired by Darden Restaurants, based in Orlando. The deal was reported on May 3, 2023. Darden Restaurants, Inc. is a leading restaurant operating company specializing in casual and fine dining. Darden Restaurants is publicly traded (DRI) and operates in Food and Beverage.
When did Darden Restaurants acquire Ruth's Hospitality Group?
Darden Restaurants's acquisition of Ruth's Hospitality Group was reported on May 3, 2023. Darden Restaurants, Inc. ("Darden") (NYSE:DRI) and Ruth's Hospitality Group, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Ruth's Hospitality Group do?
Ruth's Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. It is privately held, operating in Food and Beverage.
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