Darden (DRI) to Diversify Its Portfolio by Acquiring Chuy's

Chuy's owns and operates full-service restaurants, serving a distinct menu of made-from-scratch Tex-Mexinspired dishes. This new dining category induces optimism in Darden as it believes this will diversify its offerings portfolio and help reach out to new customers in the market. Darden is expected to acquire Chuy's in an all-cash transaction with a total transaction enterprise value of approximately $605 million, upon the unanimous approval from the board of directors of both the companies. Darden expects ...