Olive Garden parent company to buy Cheddar’s Scratch Kitchen - WAFF-TV: News, Weather and Sports for Huntsville, AL

Olive Garden parent company to buy Cheddar’s Scratch Kitchen

Source: YELP Source: YELP
(WAFF) -

The Darden Restaurant Group, the parent company of chains such as Olive Garden and LongHorn Steakhouse,  recently announced its intention to buy Cheddar’s Scratch Kitchen for $780 million in cash.

The acquisition Cheddar’s was met with cheers by Darden investors. Following the announcement shares of the company rose 7 percent, hitting an all-time high, that per CNN.

Cheddar’s was founded in 1979 in Arlington, Texas and features high-quality, made-from-scratch food at reasonable prices. Once a standalone establishment, now a Southern institution that has grown to 165 locations across 28 states.

The deal is expected to be complete by the end of the current financial quarter.

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