Friday, May 16, 2014

Darden Restaurants is selling Red Lobster

Posted By on Fri, May 16, 2014 at 12:59 PM


After laying off more employees at its headquarters earlier this week, Orlando-based Darden Restaurants announced today that they have sold Red Lobster to Golden Gate Capital for $2.1 billion. The seafood restaurant was Darden's oldest segment, but, as of late, it was also the restaurant group's worst performer.

After taxes and transaction fees, Darden should net about $1.6 billion in cash from the deal, of which they will use about $1 billion to pay off outstanding debts.

For now, the remainder of the restaurant group's brands will remain a part of the Darden family. So, no need to worry about Olive Garden, LongHorn Steakhouse, Bahama Breeze, Capital Grille and Seasons 52 going anywhere. And really, Darden can sell Red Lobster to whoever they want as long as the preserve the perfection of the Cheddar Bay Biscuits. You guys feel me?

Tags: ,

We welcome readers to submit letters regarding articles and content in Orlando Weekly. Letters should be a minimum of 150 words, refer to content that has appeared on Orlando Weekly, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at

Orlando Weekly works for you, and your support is essential.

Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of Central Florida.

Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.

Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep Orlando’s true free press free.


Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Read the Digital Print Issue

April 14, 2021

View more issues


© 2021 Orlando Weekly

Website powered by Foundation