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.

Copyright 2017 WAFF. All rights reserved.

Report an Error | Submit a Tip to WAFF 48

  • NewsMore>>

  • David: Lingering showers tonight, sunshine returns tomorrow

    David: Lingering showers tonight, sunshine returns tomorrow

    Sunday, April 30 2017 8:12 PM EDT2017-05-01 00:12:05 GMT
    (Source: WAFF)(Source: WAFF)

    Scattered rain showers will linger this evening, especially east of I-65. There’s also a cold front still to our west that will move through the Valley with time overnight. Another round of heavier showers may develop along that front, but no severe weather is expected. 

    More >>

    Scattered rain showers will linger this evening, especially east of I-65. There’s also a cold front still to our west that will move through the Valley with time overnight. Another round of heavier showers may develop along that front, but no severe weather is expected. 

    More >>
  • SLIDESHOW: April 30th severe weather event

    SLIDESHOW: April 30th severe weather event

    Sunday, April 30 2017 7:32 PM EDT2017-04-30 23:32:16 GMT

    Storms moved across the Tennessee Valley on Sunday, bringing with them heavy rains and winds. 

    More >>

    Storms moved across the Tennessee Valley on Sunday, bringing with them heavy rains and winds. 

    More >>
  • Woman dies after being hit by falling tree during storm

    Woman dies after being hit by falling tree during storm

    Sunday, April 30 2017 6:10 PM EDT2017-04-30 22:10:44 GMT

    Authorities in Lincoln County have confirmed that a woman died Sunday after being hit by a tree.  The incident occurred on Rambo Rd. sometime after 3 p.m.  Officials say she died on the scene.  

    More >>

    Authorities in Lincoln County have confirmed that a woman died Sunday after being hit by a tree.  The incident occurred on Rambo Rd. sometime after 3 p.m.  Officials say she died on the scene.  

    More >>
Powered by Frankly