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September 27, 2012

Clarence Otis
Clarence Otis

Darden’s Purchase of Yard House is Expected to Attract Younger Diners

Clarence Otis, chairman and CEO of Darden Restaurants Inc., said the company’s recent purchase of Yard House USA, will attract an important demographic to the Orlando, Fla., restaurant chain.

“Yard House will bring in a younger crowd,” Otis said Tuesday during an interview on Bloomberg Business Television.

In a news release, Otis said: “Guests in a number of different markets are responding to Yard House’s unique combination of handcrafted food, premium beers and other beverages, thoughtful soundtracks and elegantly designed restaurants. This combination has established Yard House as a great place for a wide range of occasions.”

Darden, the nation’s largest full-service restaurant chain based on annual revenues, completed the purchase last August of Irvine, Calif.-based Yard House for $585 million in an all-cash deal.

Yard House owns restaurants in Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Kansas, Massachusetts, Nevada, New York, Texas and Virginia. The company plans to open restaurants in Cincinnati, Ohio, Raleigh, N.C., Northridge, Calif., and Seattle, Wash.

Yard House will become part of Darden’s Specialty Restaurant Group, which includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V’s. With Yard House’s addition, the Speciality Restaurant Group will achieve nearly $1 billion in annual sales.

Darden also owns chain restaurants Red Lobster, Olive Garden and Longhorn Steakhouse.

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