Darden Acquires Austin-Based Tex-Mex Chain Chuy's in $600 Million Deal

Benzinga
Benzinga
  • 3 months ago
Darden acquired the corporate company behind Tex-Mex chain Chuy's for over $600 million, paying more than $37 per share. Chuy's is headquartered in Austin, Texas, and has over 100 restaurants across 15 states. Over a recent 12-month period, the company generated significant revenue and net income, according to Darden's financial data. Darden's president and CEO, Rick Cardenas, stated that Chuy's is a unique and high-performing brand with strong growth potential, making it an excellent addition to Darden's portfolio.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Darden acquired the corporate company behind Tex-Mex chain Chewy's for over $600 million,
00:08paying more than $37 per share.
00:10Chewy's is headquartered in Austin, Texas, and has over 100 restaurants across 15 states.
00:15Over a recent 12-month period, the company generated significant revenue and net income,
00:19according to Darden's financial data.
00:21Darden's president and CEO, Rick Cardanas, said that Chewy's is a unique and high-performing
00:26brand with strong growth potential, making it an excellent addition to Darden's portfolio.
00:30For all things money, visit Benzinga.com.

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