Darden Expands Its Brand Portfolio With Chuy's Acquisition

Darden Restaurants, Inc. (DRI) has completed the acquisition of Chuy's Holdings, Inc., following the merger agreement announced on July 17, 2024. The all-cash transaction has an enterprise value of about $605 million. A majority of Chuy's Holdings stockholders approved the deal on Oct. 10, 2024. The company financed the acquisition using proceeds from a $400 million offering of 4.35% senior notes due 2027 and a $350 million offering of 4.55% senior notes due in 2029. These notes were issued on Oct. 3, 2024. ...