Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Darden announces sale of Red Lobster for $2.1B
Yahoo/AP ^ | 5-16-14 | Candice Choi

Posted on 05/16/2014 8:45:25 AM PDT by kingattax

NEW YORK (AP) -- Darden Restaurants says it will sell its Red Lobster chain to investment firm Golden Gate Capital in a $2.1 billion cash deal.

The company, which also owns Olive Garden, had announced late last year that it planned to either spin off or sell Red Lobster to improve its financial performance.

Both Olive Garden and Red Lobster have been losing customers in recent years. The company has tried various menu changes and marketing campaigns in hopes of winning back business.

Part of the problem is the growing popularity of chains like Chipotle, where customers feel they can get the same quality of food without having to pay as much or wait for table service.

Red Lobster, which opened in 1968, helped popularize seafood among Americans. The first location in Lakeland, Florida, boasted platters that included frog legs and hush puppies for $2.50.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: News/Current Events
KEYWORDS: darden; olivegarden; redlobster
Navigation: use the links below to view more comments.
first 1-5051-59 next last

1 posted on 05/16/2014 8:45:25 AM PDT by kingattax
[ Post Reply | Private Reply | View Replies]

To: kingattax

Red Lobster needs to lower their prices.


2 posted on 05/16/2014 8:49:05 AM PDT by caver (Obama: Home of the Whopper)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

Chipotle and Red Lobster have nothing in common for type of food. Red Lobster’s problem is menu prices. We never get by with less than $60 bill for 2. At Chipotle it is more like under $20. Apples and Oranges.


3 posted on 05/16/2014 8:49:06 AM PDT by entropy12 (Some thought Obama would be no worse than Romney. So we have less jobs and more food stamps people.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

Red Lobster was dead to me when it endorsed Moosechelle. Same with Olive Garden.


4 posted on 05/16/2014 8:49:36 AM PDT by prisoner6 (I will not be pushed, filed, stamped, indexed, briefed, debriefed or numbered! I AM A FREE MAN!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

I like seafood. But, am fortunate to be in an area with some excellent local seafood restaurants, so don’t ever go to Red Lobster.

Well, it’s the market at work. Businesses have to adapt to changing markets.

Speaking of Olive Garden, I also visit a number of fine local Italian places, so don’t ever feel the desire to go to Olive Garden either.


5 posted on 05/16/2014 8:49:40 AM PDT by Dilbert San Diego
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

Chipotle?!?! Pay a premium price for a pedestrian burrito in a setting taken from Flashdance? I think Panera’s is a bigger problem for them.


6 posted on 05/16/2014 8:50:17 AM PDT by Dr. Sivana ("I'm a Contra" -- President Ronald Reagan)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

Started boycotting Darden when The Mooch began to “help” them with healthier menus. (currently boycotting Subway for the same reason).

Apparently, the left started boycotting Darden because they stood against obamacare.

When will businesses learn?


7 posted on 05/16/2014 8:50:31 AM PDT by Reddy (bo stinks)
[ Post Reply | Private Reply | To 1 | View Replies]

To: prisoner6

“Red Lobster was dead to me when it endorsed Moosechelle. Same with Olive Garden.”

Thanks for that info.

They are now also dead to me.


8 posted on 05/16/2014 8:50:34 AM PDT by Da Coyote
[ Post Reply | Private Reply | To 4 | View Replies]

To: caver

They need better seafood.


9 posted on 05/16/2014 8:51:06 AM PDT by Hugin
[ Post Reply | Private Reply | To 2 | View Replies]

To: kingattax

Red Lobster is no Ruth’s Chris, but to compare them to Chipotle is a joke.


10 posted on 05/16/2014 8:51:15 AM PDT by 2ndDivisionVet (I will raise $2M for Cruz and/or Palin's next run, what will you do?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: prisoner6

Great minds think alike (see post 7). Minutes apart :)


11 posted on 05/16/2014 8:52:16 AM PDT by Reddy (bo stinks)
[ Post Reply | Private Reply | To 4 | View Replies]

To: kingattax
"The company has tried various menu changes and marketing campaigns in hopes of winning back business."

Menu changes and marketing gimmicks won't do anything until the American people get rid of the Marxist president and his comrades in the democrat party.

12 posted on 05/16/2014 8:52:27 AM PDT by mosaicwolf (Strength and Honor)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Da Coyote

The Mooch is now being endorsed by Subway.


13 posted on 05/16/2014 8:53:08 AM PDT by Reddy (bo stinks)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Reddy

They’re buying protection. Just like when all the big US companies donate to Podesta.


14 posted on 05/16/2014 8:56:27 AM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
[ Post Reply | Private Reply | To 13 | View Replies]

To: kingattax

I don’t like that comparison to Chipotle. Red Lobster is a real restaurant with traditional dining, Chipotle is a cousin to the food truck in the parking lot. More people these days just can’t afford a twelve dollar lunch or a twenty dollar supper.


15 posted on 05/16/2014 8:56:28 AM PDT by jiggyboy
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax
"That must be one tender lobster! Get me two of 'em!"
16 posted on 05/16/2014 8:56:41 AM PDT by COBOL2Java (I'm a Christian, pro-life, pro-gun, Reaganite. The GOP hates me. Why should I vote for them?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax
The last time we ate at Red Lobster, EVERYTHING sucked, the server, the food, even the manager we complained to.

Our oysters still had poop in them, as they didn't let them set long enough before they shucked them.

FU Red lobster! We'll never go back no matter who owns them!

17 posted on 05/16/2014 8:57:14 AM PDT by Slump Tester (What if I'm pregnant Teddy? Errr-ahh -Calm down Mary Jo, we'll cross that bridge when we come to it)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

..someone accurately said that when it comes to Italian food—Olive Garden is neither...


18 posted on 05/16/2014 8:58:21 AM PDT by WalterSkinner ( In Memory of My Father--WWII Vet and Patriot 1926-2007)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kingattax

Purchased by Golden Gate Capital...

From Wiki...

The firm was founded in 2000, by former investment professionals from private equity firm Bain Capital, as well as business consultants from its affiliate Bain & Company.

They also own Macaroni Grill, and clothing chains Express and J Jill, among others. Will be interesting to see what improvements they’ll bring to Red Lobster.


19 posted on 05/16/2014 9:02:24 AM PDT by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: entropy12

You are so right about that.

Chipotle is where you go when you only have 30 min. for lunch and want something tastier and healthier than the drive thru.

Olive Garden and Red Lobster are where you go with the spouse and/or family for a relaxing sit-down dinner.

Not really in much competition at all.


20 posted on 05/16/2014 9:03:58 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 3 | View Replies]

To: Hugin

Red Lobster seafood is not good. In Washington state we have Ivar’s seafood which is much better, cheaper and faster.


21 posted on 05/16/2014 9:04:10 AM PDT by angry elephant (Endangered species in Seattle)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Reddy
The Mooch is now being endorsed by Subway.

Ruh roh...this can't be a good thing, considering her track record with endorsing. That, and the halal meat Subway's incorporating in their UK locations :(

22 posted on 05/16/2014 9:04:50 AM PDT by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
[ Post Reply | Private Reply | To 13 | View Replies]

To: kingattax
Darden should dump Olive Garden too.
23 posted on 05/16/2014 9:06:30 AM PDT by fatnotlazy
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dr. Sivana
Chipotle?!?! Pay a premium price for a pedestrian burrito in a setting taken from Flashdance?

Chipotle is my favorite fast-food restaurant... love their crispy chicken tacos... not as good as mine, and i do claim to make the best chicken taco ever, but for take out--i love Chipotle...

24 posted on 05/16/2014 9:06:49 AM PDT by latina4dubya (when i have money i buy books... if i have anything left, i buy 6-inch heels and a bottle of wine...)
[ Post Reply | Private Reply | To 6 | View Replies]

To: COBOL2Java

whenever you see a pic of the first manlady, it makes you want to do an involuntary personal protein spill.


25 posted on 05/16/2014 9:08:21 AM PDT by kingattax (America needs more real Americans.)
[ Post Reply | Private Reply | To 16 | View Replies]

Comment #26 Removed by Moderator

To: angry elephant

There is only one good place that I found that makes great flounder. Its called Grecian Gardens out in west Columbia. Harbor inn used to be good but they went downhill years ago.


27 posted on 05/16/2014 9:14:16 AM PDT by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Dilbert San Diego

We live close enough to the gulf that it isn’t necessary to frequent any chain restaurant for sea food and there are several excellent family owned Italian restaurants locally. However, if restaurants had to survive on what our family has spent eating out since January they would all be closing their doors except for Chick A Filet, particularly since it’s peach shake time!


28 posted on 05/16/2014 9:17:36 AM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Reddy

“The Mooch is now being endorsed by Subway.”

Subway is off my list anyway because they use meat obtained by killing the animals by slitting their throats without any previous method of killing their pain.


29 posted on 05/16/2014 9:18:34 AM PDT by kitkat (STORM HEAVEN WITH PRAYERS FOR OUR COUNTRY)
[ Post Reply | Private Reply | To 13 | View Replies]

To: latina4dubya
in a setting taken from Flashdance?

Depressed, decaying industrial Pittsburgh circa 1983?


30 posted on 05/16/2014 9:19:59 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 24 | View Replies]

To: PowderMonkey

Red Lobster needs to stop selling codfish, formed and flavored to taste like lobster and crab.


For what it’s worth, I find no evidence on the net that your allegation about product fraud is true.

You can get sued for this type of defamation, so I suggest hitting “abuse” on your post to have it removed, unless you can prove that the statement is true, or you’re reasonably relying on a reliable report.


31 posted on 05/16/2014 9:22:19 AM PDT by Freeping Since 2001 (Since 2001. Seriously.)
[ Post Reply | Private Reply | To 26 | View Replies]

To: kingattax

I have found that most of my dining out experiences are less than satisfactory these days for one reason or another: food isn’t good, service is lousy, price too high, plus our locale now has added a “meals tax” ....

Bottom line, if I want lousy food and service, I can do it at home myself a heck of a lot cheaper than eating out.


32 posted on 05/16/2014 9:24:36 AM PDT by Qiviut (Obama: A Caesar at home & a Chamberlain abroad, dividing the country & uniting the world against us.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hugin

It all tastes like sauced-up plastic.


33 posted on 05/16/2014 9:25:04 AM PDT by Pit1 (Obama is the big pile in the road.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: kingattax
From Red Lobster's Menu:

Lobster Mac & Cheese Maine and langostino lobster meat blended in a creamy white Cheddar bacon sauce

From Wikipedia:

Langostino is a Spanish word with different meanings in different areas. In the United States, it is commonly used in the restaurant trade to refer to the meat of the squat lobster, which is neither a true lobster nor a prawn. It is more closely related to porcelain crabs and hermit crabs.

34 posted on 05/16/2014 9:25:40 AM PDT by Veggie Todd (The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. TJ)
[ Post Reply | Private Reply | To 1 | View Replies]

To: latina4dubya
i love Chipotle...

I like Bullritos better.

35 posted on 05/16/2014 9:26:05 AM PDT by ShadowAce (Linux -- The Ultimate Windows Service Pack)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Buckeye McFrog
Depressed, decaying industrial Pittsburgh circa 1983?

i actually do like that look to start with... and then it can be dressed with beautiful things... but i do not see the interiors of Chipotle as something out of Flashdance... they are not depressed and decaying... the look is industrial to be sure... but it is simple, clean... much like the food...

36 posted on 05/16/2014 9:27:50 AM PDT by latina4dubya (when i have money i buy books... if i have anything left, i buy 6-inch heels and a bottle of wine...)
[ Post Reply | Private Reply | To 30 | View Replies]

To: latina4dubya

Okay, well you’re the Latina, and I’m not, so I will defer on your judgement on such matters. Part of my problem is that I like jalapenos and Louisiana hot sauce and all sorts of spicy things, but dislike the flavor of chipotle peppers. Over the last few years, EVERYbody is making chipotle this and chipotle that. It’s just a matter of time before there’s chipotle Mountain Dew. So the name throws me off for starters. It’d be like a place calling itself the Cotto Salami Deli.

I have also been spoiled by genuine Mexican restaurants (El Rebozo) that do not qualify as “fast food” but charge no more than Chipotle.

Maybe I’ll give it another try. After Qdoba is no better, and Taco Bell is sort of the Saturday Night Live version.


37 posted on 05/16/2014 9:29:44 AM PDT by Dr. Sivana ("I'm a Contra" -- President Ronald Reagan)
[ Post Reply | Private Reply | To 24 | View Replies]

To: angry elephant

In Washington state we have Ivar’s seafood which is much better, cheaper and faster.

Yes you do, fond memories.


38 posted on 05/16/2014 9:29:52 AM PDT by wita
[ Post Reply | Private Reply | To 21 | View Replies]

To: ShadowAce

i have never heard of it... i would try it if i were to come across one... my second favorite fast-food restaurant is Baja Fresh...


39 posted on 05/16/2014 9:32:39 AM PDT by latina4dubya (when i have money i buy books... if i have anything left, i buy 6-inch heels and a bottle of wine...)
[ Post Reply | Private Reply | To 35 | View Replies]

To: kingattax

I’ve never understood the appeal of eating Sea Roach anyway.


40 posted on 05/16/2014 9:33:21 AM PDT by DesScorp
[ Post Reply | Private Reply | To 1 | View Replies]

To: PowderMonkey

“Red Lobster needs to stop selling codfish, formed and flavored to taste like lobster and crab.”

Huh??? If you know that why don’t others know that? Where are the lawsuits?

I’ve never been to a Red Lobster so I have no opinion on the chain.

.


41 posted on 05/16/2014 9:34:06 AM PDT by Mears
[ Post Reply | Private Reply | To 26 | View Replies]

To: PowderMonkey
Red Lobster needs to stop selling codfish, formed and flavored to taste like lobster and crab.

oh please... share your dislike of Red Lobster, but at least do it honestly...

42 posted on 05/16/2014 9:34:20 AM PDT by latina4dubya (when i have money i buy books... if i have anything left, i buy 6-inch heels and a bottle of wine...)
[ Post Reply | Private Reply | To 26 | View Replies]

To: latina4dubya

Yup—I like Baja Fresh also, but they are not around here, unfortunately.


43 posted on 05/16/2014 9:34:43 AM PDT by ShadowAce (Linux -- The Ultimate Windows Service Pack)
[ Post Reply | Private Reply | To 39 | View Replies]

To: Dr. Sivana
Part of my problem is that I like jalapenos and Louisiana hot sauce and all sorts of spicy things, but dislike the flavor of chipotle peppers.

i love spicy too! serrano chilis are my favorite! i absolutely do NOT like chipotle peppers... can't stand chipotle sauce or salsa... too smokey for my taste... :)

44 posted on 05/16/2014 9:36:24 AM PDT by latina4dubya (when i have money i buy books... if i have anything left, i buy 6-inch heels and a bottle of wine...)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Buckeye McFrog

Prices too high,Servings too small.I wont pay 16.00 for 6 small shrimp.Quality is lacking as well and service is slow.Red Lobster used to be a great place to go.They used to have an admirals platter that could feed 2 people and you would still take home leftovers.Now I feel like I ordered from the childrens menu.
Chipoltle is fast food done right.Not to be compared to Red Lobster.The food is made fresh to your order while you watch.They sell burritos not seafood so why the comparison?


45 posted on 05/16/2014 9:37:58 AM PDT by Craftmore
[ Post Reply | Private Reply | To 30 | View Replies]

To: latina4dubya

I have always loved your tagline! ;-)


46 posted on 05/16/2014 9:58:24 AM PDT by spel_grammer_an_punct_polise (What we need is to sucker the fedthugs into a "Tiananmen Square"-like incident on the National Mall!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: kingattax

You want good seafood, dont go to Red Lobster. It used to be good, but not any more.

Get your seafood at your local store and do it yourself.


47 posted on 05/16/2014 10:02:05 AM PDT by crz
[ Post Reply | Private Reply | To 1 | View Replies]

To: PowderMonkey

I didn’t know they did that.


48 posted on 05/16/2014 10:16:17 AM PDT by caver (Obama: Home of the Whopper)
[ Post Reply | Private Reply | To 26 | View Replies]

To: Dr. Sivana

Panera is great company. They donate extra baked goods to the Salvation Army food pantries. It’s always the first stuff to go.


49 posted on 05/16/2014 10:21:58 AM PDT by neefer (Because you can't starve us out and you can't make us run.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Dr. Sivana
I think Panera’s is a bigger problem for them.

I agree. A Panera went in close by about a year ago. That place is PACKED at lunchtime. Panera is what middle class people that want good food quick go to. I like their onion soup.
50 posted on 05/16/2014 10:24:52 AM PDT by Tailback
[ Post Reply | Private Reply | To 6 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-59 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson