Is Red Lobster Still Owned by Darden?
No, Red Lobster is no longer owned by Darden.
The Sale of Red Lobster
Darden Restaurants, Inc., which had owned Red Lobster for decades, completed the sale of the popular seafood chain to Golden Gate Capital on July 28, 2014. This strategic divestiture allowed Darden to concentrate on its remaining core restaurant brands, such as Olive Garden and LongHorn Steakhouse.
The decision to sell Red Lobster was a significant move for Darden, aiming to enhance shareholder value and streamline its portfolio. For more details on this landmark transaction, you can refer to Darden's official press release regarding the sale.
Red Lobster's Journey Since Darden
After the acquisition by Golden Gate Capital, Red Lobster embarked on a new phase under private equity ownership. Subsequently, in 2020, Thai Union Group, a global seafood company that was already a major supplier and a minority investor, increased its stake to become the majority owner of Red Lobster. This transition further reshaped Red Lobster's operational and strategic direction, aligning it more closely with a global seafood industry leader.
