Darden Restaurants has acquired Chuy’s in an all-cash transaction worth $605 million. The iconic Austin-based chain, known for its Tex-Mex-inspired dishes, will now be a part of Darden’s portfolio which includes popular brands such as Olive Garden and LongHorn Steakhouse.
Since its humble beginnings in 1982 with the opening of its first location on Barton Springs Road, Chuy’s has expanded to 101 restaurants across 15 states. With average annual restaurant volumes of $4.5 million and total revenues over $450 million in the last twelve months, it is clear that Chuy’s has been successful in capturing customers’ taste buds.
As a result of this acquisition, all 7,400 employees at Chuy’s will now become part of Darden Restaurants. This move not only strengthens Darden’s presence but also adds diversity to their brand offerings with the addition of Tex-Mex cuisine from one-of-a-kind homegrown chain like Chuy’s.
This strategic acquisition by Darden highlights their commitment towards growth and expansion while staying true to their core values – providing high-quality food and exceptional service to customers nationwide.
