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On May 12, 2014, Darden announced that as part of the spinoff of Red Lobster, it was converting the co-located Red Lobster and Olive Garden locations into standalone Olive Garden locations. [27] On May 16, 2014, Darden announced that it would be selling the Red Lobster seafood restaurant chain to Golden Gate Capital for US$2.1 billion. [28]
Olive Garden is an American casual dining restaurant chain specializing in Italian-American cuisine. It is a subsidiary of Darden Restaurants, Inc., which is headquartered in Orange County, Florida. [2] As of 2022, Olive Garden restaurants accounted for $4.5 billion of the $9.63 billion revenue of its parent, Darden. [3] [4]
Fast food is no longer cheap, and fast-casual chains are benefiting from it. Rick Cardenas, CEO of Darden Restaurants—which owns Olive Garden, Longhorn Steakhouse, Bahama Breeze, and Ruth’s ...
In March 2002, Blum moved further up the ladder to become Vice Chairman of Darden Restaurants, the owner of the Olive Garden restaurant chain. Because of his leadership, Olive Garden became Darden's most successful and recognizable company. Blum oversaw Olive Garden and Smokey Bones (considered one of Darden's most promising new restaurant ...
Olive Garden’s earnings just pulled back the curtain on the economy: The rich are dining out while the poor are falling back. Sydney Lake. March 22, 2024 at 1:03 PM. Getty Images—Bloomberg.
The CEO of Darden's, which owns Olive Garden and Red Lobster, recently weighed in on chains like Cosi filing for bankruptcy. Olive Garden owner says it'd sure be 'helpful' if more chains went bankrupt
That's across the board from fast food plays such as McDonald's to sit-down eateries in the mold of Olive Garden owner Darden. Everything but the kitchen sink has been tossed at restaurant ...
The shift has been weighing on McDonald's, Olive Garden owner Darden Restaurants, and similar chains. Orlando-based Darden reported a 1.1% sales drop at restaurants open for at least a year. The decline was a more severe 2.9% at the Olive Garden chain. July was especially weak.