The move would add 101 restaurants operated by Chuy's across 15 states in the U.S. to the iconic portfolio of brands owned by Darden such as LongHorn...
- Darden Restaurants , owner of the Olive Garden chain, has agreed to buy full-service restaurant operator Chuy's Holdings in an all-cash deal which has an enterprise value of $605 million, the companies said on Wednesday.
Darden will acquire all of Chuy's outstanding shares for $37.50 per share in cash, which represents a 48.4% premium to the stock's closing on Wednesday. Darden, which said it had sufficient liquidity to complete the all-cash deal, noted that the total acquisition and integration related expenses are expected to be between $50 million and $55 million, pre-tax.
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