Red Lobster eateries dumped - my dish darden restaurants longhorn

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NEW YORK —
Darton Restaurant Limited
The Red Lobster floats, but it can still reverse the fate of the Olive Garden.
The company is headquartered in Orlando, Florida.
On Friday, the company said it would sell its seafood chain and accompanying real estate to investment firm Kinmen Capital for $2. 1-
Billion cash transactions
Although some shareholders opposed plans to separate Red Lobster, the announcement was announced at the end of last year.
Olive Garden and Red Lobster have been losing customers in recent years, although they have changed menus and marketing activities to win business.
Part of the problem is the growing popularity of places like Chipotle and Panera where customers feel they can get the same without paying the same amount or waiting for table service
Darren CEO Clarence Otis made a distinction between the Red Lobster and the Olive Garden.
Otis says red lobsters in particular are becoming less attractive to higher markets.
Revenue client Darden caters to its more successful chain of restaurants, including the Longhorn Steak House, The Capital Grille and season 52.
The Red Lobster, which opened in 1968, helped promote seafood among Americans, and now has about 700 locations in the United States. S. and Canada.
The first restaurant in Lakeland, Florida.
There's a menu that includes half.
A dozen oysters of 65 cents, a $2 plate of frog legs and quiet puppies. 50.
Executives blamed various factors, including the customer's refusal to accept price increases, for the recent decline in sales.
For example, in 2012, executives, explaining the quarterly decline in sales, pointed out that the price of special Shrimp Festival prices rose by $1.
Recently, the company tried to add more non-
Seafood dishes on the Red Lobster menu.
No success in hard work.
Darton believes that there is more potential to repair the Olive Garden with about 830 locations.
The company recently redesigned the logo for Italians
It adds a lighter menu item, as well as a few smaller dishes, such as "crispy risotto", reflecting the trend of eating.
Nevertheless, affordability remains an ongoing problem across the industry, and Darton is slow to address it.
For example, at the height of the recession, Applebee launched a "$2 $20" deal that proved very popular and eventually became a menu fix
Radical investor Barington Capital questioned Darden's plan to sell Red Lobster, saying the company should make Olive Garden and Red Lobster a pair, separate from other chains, including the Bahamas breeze, eddie V and the house in the yard.
Barrington said in a statement that Darton's decision was "unreasonable" given the concerns expressed by shareholders ".
The deal does not require shareholder approval, dadden noted.
After the transaction cost, Mr. Darden said the expected earnings were $1.
6 billion, of which $1 billion will be used for retirement debt.
The company said it expects the deal to be completed by 2015 (that is, this summer.
Golden Gate Capital earned $1 alone. 5-
Sell the Red Lobster property to US real estate capital property and rent it out.
Other investments in the company include Pizza Kitchen in California, Payless ShoeSource and Eddie Bauer.
Darton Restaurant Co. , Ltd.
The close fell four to $48. 49. —