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US: Red Lobster divested for $2.1B

By  |  May 18, 2014

Red Lobster is reportedly set to be sold by its owner Darden in a $2.1 billion deal, according to reports.

Reports say Red Lobster will be acquired by investment firm Golden Gate Capital. Darden has decided to retain one its other struggling restaurant chain, Olive Garden, in hopes it can pull the company out of its financial slump. Darden also owns chains Season 51 and Longhorn Steakhouse.

Darden is reportedly set to close the deal this summer.

Full content: Washington Post

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