ORLANDO, FLA. — Darden Restaurants, Inc. has completed its acquisition of Yard House USA, Inc. for $585 million from private equity firm TSG Consumer Partners L.L.C., management and investors.
The transaction price includes about $30 million of cash tax benefits expected to be realized in 2013 and 2014. Yard House will be part of Darden’s Specialty Restaurant Group, which also includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V’s. Yard House has 40 restaurants in 13 states and offers American cuisine with chef-inspired recipes and ethnic flavors.
The acquisition was first announced on July 12.