Darden sells off Red Lobster for 2.1 billion

[Brian Lutz]

http://www.wxii12.com/news/local-news/n ... B12%2Bnews

Darden Group is selling off Red Lobster to Golden Gate Capital for $2.1 billion in cash, which will be used to pay down debt and to focus on getting Olive Garden back on track. Apparently the deal is already being opposed by some activist investors who think they should be offloading Olive Garden too and focusing on their more profitable smaller chains.

It's been so long since I've been in a Red Lobster that I have no idea how the place is these days. There aren't any near where I live, and for the type of money you would spend on a seafood dinner there are plenty of better choices around here anyway.

[Super S]

The Red Lobster locations near me have been remodeled in the last few years. I eat there on occasion, and the food and service are usually pretty good. For what it's worth, they are very busy on the weekends.