Goldman Sachs to review Darden split proposal


SeafoodSource staff

Published on
October 21, 2013

Darden Restaurants has hired Goldman Sachs to help it consider a re-organization proposal released Thursday by activist investment firm Barington Capital, according to a person familiar with the situation.

Barington, run by James Mitarotonda, released a letter it recently sent to Darden's board of directors, summarizing a plan that includes forming two independently managed restaurant companies.

One would operate Darden’s mature brands, Olive Garden and Red Lobster, while the other would run its higher-growth brands, such as LongHorn Steakhouse, The Capital Grille and Yard House.

Click here to read the full story from USA Today >

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