Darden Restaurants Acquires Ruth's Hospitality Group

Darden Restaurants Acquires Chuy's Holdings, Inc.

October 14, 2024

Restaurants & Hospitality

Darden Restaurants completed its previously announced all-cash acquisition of Chuy's Holdings, Inc. for an enterprise value of approximately $605 million, financed in part with proceeds from senior note offerings. Chuy's—founded in Austin, Texas—operates just over 100 Tex‑Mex restaurant locations (about 101 stores) with annualized unit volumes of roughly $4.5 million; Chuy's stockholders approved the merger and the company's common stock ceased trading on Nasdaq.

Restaurant Brands International Acquires Carrols Restaurant Group

May 16, 2024

Restaurants & Hospitality

Restaurant Brands International (RBI) completed an all-cash acquisition of Carrols Restaurant Group on May 16 for approximately $1.0 billion (at $9.55 per share). RBI said it will invest an additional $500 million to reimage more than 600 restaurants and plans to refranchise most of the acquired units over the next seven years; Carrols operated 1,023 Burger King restaurants across 23 states and 59 Popeyes restaurants in six states.

Diversified Restaurant Holdings Acquires Nine Buffalo Wild Wings Restaurants in Chicago

February 28, 2019

Restaurants & Hospitality

Diversified Restaurant Holdings, Inc. (Nasdaq: SAUC) entered into an agreement to acquire nine Buffalo Wild Wings restaurants in the Chicago market for $22.5 million. The acquisition expands DRH’s Midwest footprint, adds scale to leverage infrastructure and marketing, and is expected to close in Q2 subject to franchisor consent and customary conditions.

RL Investor Holdings (Fortress-led group) Acquires Red Lobster Out of Chapter 11

July 23, 2024

Restaurants & Hospitality

RL Investor Holdings LLC — an entity formed by funds managed by affiliates of Fortress Investment Group with co-investors TCW Private Credit and Blue Torch — has completed its acquisition of the Red Lobster restaurant chain as the company exits Chapter 11. The transaction recapitalizes Red Lobster (about 545 restaurants and a ~30,000-strong workforce) and includes a committed plan of new funding to stabilize operations and support a turnaround following the restructuring.

ICV Partners Acquires Diversified Restaurant Holdings

March 12, 2020

Restaurants & Hospitality

ICV Partners completed a cash acquisition of Diversified Restaurant Holdings, Inc. for approximately $130 million, including assumption of debt and transaction expenses. Concurrently, JK&T executed a 15-store area development agreement and sold certain Buffalo Wild Wings restaurants in Florida and Massachusetts to Inspire Brands; ICV will combine the remaining DRH and JK&T locations to create the largest Buffalo Wild Wings franchisee with over 80 restaurants across five states.

Oak View Group Acquires Rhubarb Hospitality Collection

June 1, 2023

Restaurants & Hospitality

Oak View Group (OVG) has acquired UK-based Rhubarb Hospitality Collection (RHC) from LGT Private Debt. RHC, a premium hospitality and catering operator with around 2,000 employees and forecasted nine-figure revenues in 2023, will be integrated into OVG Hospitality to expand and elevate food & beverage and premium hospitality services across OVG-owned and third-party venues worldwide.