The Orlando, Florida-based owner of Olive Garden and other chains has finished its $715 million deal to buy Winter Park, Florida-based Ruth’s Hospitality Group.
Darden Restaurants completed the deal Wednesday after first revealing it May 3.
Ruth’s has 81 company-owned or operated Ruth’s Chris Steak House restaurants and 74 franchised locations worldwide, making it Darden’s fourth largest brand by store count. Only Olive Garden, LongHorn Steakhouse, and Cheddar’s have more restaurants within the company.
Ruth’s Chris started in 1965 in New Orleans and moved to Central Florida in 2005 after Hurricane Katrina devastated that Louisiana city. Ruth’s stock is no longer traded on the Nasdaq with the deal’s completion.
Darden already had 1,890 restaurants including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s and The Capital Burger.
The company last acquired Cheddar’s Scratch Kitchen in 2017 for $780 million. Cheddar’s had 165 restaurants at the time of the deal.
Darden’s next earnings call is scheduled for June 22.
