Darden Restaurants Inc., owners of Red Lobster and Olive Garden, announced that they will acquire the Yard House restaurant chain for $585 million in cash.
Yard House, which is based in Irvine, Calif., is owned by the private equity firm TSG Consumer Partners and other investors. The deal is expected to close by November.
The beer centric Yard House has 39 restaurants in 13 states.
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