🌮 Darden Restaurants Inc. Acquires Tex-Mex Chain Chuy's for $605 Million

Darden Restaurants Inc. broadens its portfolio with the addition of Chuy's restaurant chain.

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  • 🌮Darden Restaurants Inc. Acquires Tex-Mex Chain Chuy's for $605 Million

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ROLL UP A CHEWY…I MEAN CHUY

Darden Restaurants Inc. Acquires Tex-Mex Chain Chuy's for $605 Million(Read More)

Chuy’s


Darden Restaurants Inc. is excited to announce a new addition to its impressive portfolio. The company has agreed to acquire all outstanding shares of Chuy's for $37.50 per share, in an all-cash transaction valued at approximately $605 million. This acquisition marks Darden's entry into the Tex-Mex dining category.

Welcome Chuy's to the Darden Family

Chuy's, based in Austin, Texas, operates full-service restaurants serving made-from-scratch, Tex-Mex-inspired dishes. Known for their unique motto, "If you've seen one Chuy's, you've seen one Chuy's!", each location offers a distinct and unchained ambiance. As of July 16, 2024, Chuy's boasted 101 restaurants across 15 states, generating over $450 million in total revenues and average annual restaurant volumes of $4.5 million.

Transaction Details

The transaction has been unanimously approved by the boards of directors of both Darden and Chuy's and is expected to be completed in Darden's fiscal second quarter.

About Darden Restaurants Inc.

As of May 26, Darden operated 2,031 restaurants, including:

  • 920 Olive Gardens

  • 575 LongHorns

  • 181 Cheddar’s Scratch Kitchens

  • 88 Yard Houses

  • 80 Ruth’s Chris Steak Houses

  • 66 Capital Grills

  • 44 Seasons 52s

  • 43 Bahama Breezes

  • 30 Eddie V’s

  • 4 Capital Burgers

BofA Securities is serving as the financial advisor and Hunton Andrews Kurth LLP as the legal advisor to Darden. Piper Sandler is acting as the financial advisor and Winston & Strawn LLP as the legal advisor to Chuy's.

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