The Ruth's Chris Steak House chain is being acquired by Darden Restaurants for about $715 million.
FILE - A Ruth's Chris Steak House sign is shown in San Francisco, Tuesday, April 21, 2020. Darden Restaurants is buying Ruth’s Hospitality Group Inc., the owner of Ruth’s Chris Steak House, for about $715 million, Wednesday, May 3, 2023. Darden will acquire all outstanding shares of Ruth’s for $21.50 per share.
The company, now based in Winter Park, Florida, suffered as most restaurants did during the pandemic, closing 23 restaurants in early 2020, furloughing workers and announcing that executives were taking less pay. Darden, also based in Florida, is acquiring all outstanding shares of Ruth’s for $21.50 per share, a 34% premium.
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