Ruth's Chris parent company merging with operator of Olive Garden restaurants

(Google Maps) The company behind Ruth's Chris Steak House, Ruth's Hospitality Group, has entered into a definitive merger agreement with Darden Res...

May 3, 2023
9:54 PM

(Google Maps) The company behind Ruth's Chris Steak House, Ruth's Hospitality Group, has entered into a definitive merger agreement with Darden Restaurants, according to an announcement from Darden.  Orlando, Florida-based Darden operates Olive Garden, LongHorn Steakhouse and Bahama Breeze among others. Darden has agreed to acquire all of the outstanding shares of Ruth's for $21.50 per share, in an all-cash transaction with an equity value of roughly $715 million. Ruth's Chris was founded in 1965 in New Orleans by Ruth Fertel and now has 154 locations around the globe, including 80 company-owned or -operated restaurants and 74 franchised restaurants.

Deanna B. Narveson