Olive Garden, Red Lobster Part Ways - News and Weather For The Quad Cities -

Olive Garden, Red Lobster Part Ways

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The owner of two popular restaurants in the Quad Cities has reaffirmed a change in its lineup. Darden Restaurants, Inc. has decided to spin-off its Red Lobster restaurant chain. In a news release, the company says its board of directors and management team are focused on creating value for all Darden shareholders. The plan, which was first announced in December, also includes reducing new unit growth, suspending acquisitions and increasing operating cost savings.

There is no decision yet on the future management of the Red Lobster brand. A company spokesman says the two options for separating Red Lobster are to either spin it off as a publicly traded company or a sale. 

Darden claims it is the world's largest full-service restaurant company, which owns more than 2,100 restaurants and employs more than 200,000 people. Headquartered in Orlando, Fla. its current restaurant brands include: Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House.

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