Darden Restaurants Acquires Chuy's Tex-Mex Chain for $605 Million

Austin, Texas United States of America
Acquisition marks Darden's first restaurant chain focusing on Mexican food
Chuy's operates 101 restaurants in 15 states and generated over $450 million in revenue as of March 31, 2024
Darden Restaurants acquired Chuy's Tex-Mex chain for approximately $605 million
Expected to be completed in Darden's fiscal second quarter
Founded in Austin, Texas in 1982 by Mike Young and John Zapp
Darden Restaurants Acquires Chuy's Tex-Mex Chain for $605 Million

Darden Restaurants, the parent company of popular restaurant brands such as Olive Garden, LongHorn Steakhouse, and Ruth's Chris Steak House, announced on July 18, 2024 that it will acquire Tex-Mex chain Chuy's for approximately $605 million. The acquisition marks Darden's first restaurant chain focusing on Mexican food.

Founded in Austin, Texas in 1982 by Mike Young and John Zapp, Chuy's operates 101 restaurants in 15 states and generated over $450 million in revenue as of March 31, 2024. The restaurant chain is known for its authentic Tex-Mex inspired dishes.

Darden President and CEO Rick Cardenas expressed his excitement about the acquisition, stating that Chuy's is a differentiated brand within the full-service dining industry with strong performance and growth potential. He also welcomed Chuy's team members to Darden, diversifying the company's portfolio into a new dining category.

Chuy's CEO Steven Hislop shared similar sentiments, expressing his excitement about joining the Darden family and bringing their authentic Tex-Mex to more guests and communities.

The acquisition is expected to be completed in Darden's fiscal second quarter. Chuy's was previously owned by private equity firm Goode Partners before being sold to Darden. The deal has been approved by both boards.


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Confidence

91%

Doubts
  • Are there any potential regulatory issues with the acquisition?
  • Is the revenue figure accurate?

Sources

99%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Darden Restaurants to acquire Chuy's for approximately $605 million

CNBC News Justine Fisher Wednesday, 17 July 2024 21:23
  • Unique Points
    • Darden Restaurants agreed to acquire all outstanding shares of Chuy’s at $37.50 per share.
    • Chuy’s has 101 restaurants in 15 states and generated total revenues of over $450 million in its latest fiscal year.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Austin-Born Tex-Mex Chain Gets Acquired by a Huge Restaurant Company

Austin Rotisserie Nadia Chaudhury Thursday, 18 July 2024 15:50
  • Unique Points
    • Chuy’s was founded by Mike Young and John Zapp in Austin, Texas in 1982.
    • Darden Restaurants acquired Chuy’s in July 2023 for approximately $605 million.
    • Young and Zapp sold a majority of the company to private equity firm Goode Partners in 2006.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

97%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Pasta, steaks, and now chicka-chicka-boom-boom enchiladas. Olive Garden parent adds Tex-Mex to the menu

Fortune Media Inc. Catherine Larkin,Bloomberg Wednesday, 17 July 2024 00:00
  • Unique Points
    • Darden Restaurants Inc. is buying Chuy’s Holdings Inc. for approximately $605 million.
    • The acquisition has been approved by both boards and is expected to be completed in Darden’s fiscal second quarter, which ends in November.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Darden Restaurants, owner of Olive Garden, to acquire Tex-Mex chain Chuy's for $605 million

USA Today Thursday, 18 July 2024 00:00
  • Unique Points
    • Darden Restaurants will acquire Chuy’s for approximately $605 million.
    • Chuy’s was founded in Austin, Texas in 1982.
    • Chuy’s serves authentic, made-from-scratch Tex-Mex inspired dishes.
    • Chuy’s team members will join Darden, diversifying the Darden portfolio into a new dining category.
    • Steven Hislop, Chairman, CEO and President of Chuy’s, is excited about joining the Darden family.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication