Darden Restaurants Acquires Ruth's Hospitality Group
May 3, 2023
Darden Restaurants agreed to acquire all outstanding shares of Ruth's Hospitality Group, the owner/operator of Ruth's Chris Steak House, in an all-cash transaction valued at about $715 million ($21.50 per share). The deal, which closed June 14, 2023 via a tender offer and short-form merger, brings roughly 155 Ruth's Chris locations and nearly 5,000 team members into Darden's portfolio of restaurant brands.
- Buyers
- Darden Restaurants, Inc., Ruby Acquisition Corporation
- Targets
- Ruth's Hospitality Group, Inc.
- Industry
- Restaurants & Hospitality
- Location
- Florida, United States
- Transaction Type
- Buyout
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