Darden Restaurants to acquire Yard House USA
Orlando, Fla. -- Darden Restaurants announced that it has agreed to acquire Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC. Yard House operates 39 restaurants in 13 states.
The brand will become part of Darden's Specialty Restaurant Group, which includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V's.
"With this addition, Darden's Specialty Restaurant Group will have nearly $1 billion in annual sales and be even better positioned to sustain annual sales growth of 15% to 20% for years to come," said Clarence Otis, chairman and CEO of Darden.