DRI Stock Recent News

Darden Restaurants (DRI) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

The restaurant industry is facing significant difficulties including slow traffic, high operating costs, and intense price wars. These issues are contributing to a broader market correction influenced by economic factors. Texas Roadhouse has maintained positive sales trends without frequent price increases, showing strong traffic and average check growth. The company avoids engaging in price wars. Darden is navigating market challenges by maintaining operational efficiency and avoiding aggressive promotional tactics. Despite a decline in Olive Garden's traffic, brands like Longhorn Steakhouse have shown resilience.

Darden (DRI) is set to diversify its product offerings and reach out to new customers by acquiring Chuy's Holdings. The transaction is expected to close by Darden's second-quarter fiscal 2025.

Olive Garden parent Darden Restaurants agreed to acquire Chuy's Holdings, a Tex-Mex restaurant chain, for $605 million.

Shares of Chuy's Holdings (CHUY) soared Thursday after Darden Restaurants (DRI) announced it was buying the Tex-Mex restaurant chain for $605 million in cash.

Darden Restaurants , owner of the Olive Garden chain, has agreed to buy full-service restaurant operator Chuy's Holdings in an all-cash deal which has an enterprise value of $605 million, the companies said on Wednesday.

Darden agreed to acquire all outstanding shares of Chuy's at $37.50 per share, according to a press release. The Tex-Mex restaurant chain joins Darden's portfolio that includes restaurants such as Olive Garden, LongHorn Steakhouse and Ruth's Chris Steak House.

Darden Restaurants said Wednesday it is buying the Tex-Mex chain Chuy's as it seeks to expand its dining options.

ORLANDO, Fla. and AUSTIN, Texas , July 17, 2024 /PRNewswire/ -- Darden Restaurants, Inc. ("Darden") (NYSE:DRI) and Chuy's Holdings, Inc. ("Chuy's") (Nasdaq: CHUY), jointly announced today that they have entered into a definitive agreement pursuant to which Darden will acquire all of the outstanding shares of Chuy's for $37.50 per share, in an all-cash transaction with an enterprise value of approximately $605 million.

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