Darden Restaurants Completes Acquisition of Yard House USA
08/30/2012 – The aquisition of Yard House USA, as announced in July by Darden Restaurants, has been completed for $585 million in an all-cash transaction. Darden purchased Yard House from private equity firm TSG Consumer Partners LLC, management and investors. The total transaction price includes approximately $30 million of cash tax benefits that are expected to be realized by Darden in fiscal 2013 and fiscal 2014.
With the acquisition now complete, Yard House joins Darden’s Specialty Restaurant Group, which also includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V’s.
Yard House, which launched its first restaurant in 1996, offers contemporary American cuisine with chef-inspired recipes and ethnic flavors along with a wide range of draft beers and other beverages in a stylish and energetic setting. The brand has grown to 40 restaurants across 13 states.
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