Highlights
Orlando-based Darden Restaurants is considered the world's largest casual dining restaurant company in terms of market share and annual sales. Restaurant entrepreneur Bill Darden, who opened the first Red Lobster restaurant in Lakeland in 1968, founded the company. Darden is considered one of the pioneers in the development of full-service chain restaurants in the United States.
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it beca...
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it beca...
Orlando-based Darden Restaurants is considered the world's largest casual dining restaurant company in terms of market share and annual sales. Restaurant entrepreneur Bill Darden, who opened the first Red Lobster restaurant in Lakeland in 1968, founded the company. Darden is considered one of the pioneers in the development of full-service chain restaurants in the United States.
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it became a division of General Mills.
Darden is most closely associated with its two largest restaurant brands: Red Lobster and Olive Garden. Both of those chains now have more than 600 locations. The company's attempt to diversify its restaurant holdings has had mixed results. In 1995, Darden shut down an internally developed Chinese restaurant chain called China Coast. Since its spin-off, Darden has also created a barbecue and sports bar-themed restaurant group called Smokey Bones, a Caribbean-themed chain called Bahama Breeze, and a higher-end group of restaurants called Seasons 52. The company announced its intention to sell its Smokey Bones restaurants in May 2007, admitting that the brand did not have the potential to become a national chain. In August, Darden agreed to purchase Rare Hospitality International, which operates the LongHorn Steakhouse and Capital Grille restaurant chains, for an estimated value of $1.4 billion.
Clarence Otis, who took over the company from long-time chief Joe Lee in 2005, serves as chairman and chief executive officer. Darden posted $5.6 billion in annual sales in fiscal year 2007. Its shares are traded on the New York Stock Exchange under the ticker symbol DRI.
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it became a division of General Mills.
Darden is most closely associated with its two largest restaurant brands: Red Lobster and Olive Garden. Both of those chains now have more than 600 locations. The company's attempt to diversify its restaurant holdings has had mixed results. In 1995, Darden shut down an internally developed Chinese restaurant chain called China Coast. Since its spin-off, Darden has also created a barbecue and sports bar-themed restaurant group called Smokey Bones, a Caribbean-themed chain called Bahama Breeze, and a higher-end group of restaurants called Seasons 52. The company announced its intention to sell its Smokey Bones restaurants in May 2007, admitting that the brand did not have the potential to become a national chain. In August, Darden agreed to purchase Rare Hospitality International, which operates the LongHorn Steakhouse and Capital Grille restaurant chains, for an estimated value of $1.4 billion.
Clarence Otis, who took over the company from long-time chief Joe Lee in 2005, serves as chairman and chief executive officer. Darden posted $5.6 billion in annual sales in fiscal year 2007. Its shares are traded on the New York Stock Exchange under the ticker symbol DRI.
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As grocers, restaurants bicker, many menus still lack calorie counts
Three years after Congress voted to require it, you still won't find calories listed on the menus of most restaurant chains. The problem? The federal government has yet to write the specific rules to carry out the law, in part because supermarkets are...
Tags: Restaurants, Dining and Drinking, Salads, Food and Drug Administration, Panera Bread Company
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Darden tries out Atrium bar area
Wedged between its latest combination of Olive Garden and Red Lobster in Wilkesboro, N.C., Darden Restaurants is testing a bar called Atrium. Atrium offers its own menu. It has alcohol and foods such as flatbreads, tacos and mini-sandwiches that...
Tags: Restaurants, Dining and Drinking, Olive Garden, Winter Park, New York City
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Yard House will open on I Drive
Yard House, the upscale bar-and-grill chain purchased by Darden Restaurants last year, will open its first Orlando location at the I-Drive Live complex now under construction. Orlando-based Darden said Wednesday the International Drive restaurant will...
Tags: Seasons Restaurant, Restaurants, Dining and Drinking, Hallandale Beach, Mall at Millenia
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Bill would tighten tax incentives on pollution
Businesses would no longer receive state tax breaks simply because of perceived pollution on their properties if Gov. Rick Scott signs a bill approved by the Florida Legislature earlier this month. Last year, the Orlando Sentinel reported that Florida...Tags: Sports, Environmental Pollution, Bobsleigh, Politics, Florida Legislature
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United Arts fundraising beats goal
United Arts of Central Florida's annual public-fundraising campaign had its strongest result in five years, officials said, beating its 2013 goal by almost $390,000. Individuals donated $1.96 million to the three-month fund drive that supports more than...
Tags: Culture, Politics, Orlando Museum of Art, Winter Park, Orlando Science Center
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Part-timers to lose pay amid health act's new math
Los Angeles TimesMany part-timers are facing a double whammy from President Obama's Affordable Care Act. The law requires large employers offering health insurance to include part-time employees working 30 hours a week or more. But rather than provide healthcare to more...Tags: Healthcare Laws, Medicaid, University of California, Santa Barbara, Health and Safety at Work, Lawyers
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Orlando: Where restaurants roll out new ideas
When the restaurant industry needs guinea pigs, it often finds them in Central Florida. Orlando-area residents have recently sampled new Chick-fil-A salads, a healthy Cracker Barrel menu and Red Lobster's pay-at-the-counter option before most other...
Tags: Restaurants, Dining and Drinking, Salads, Orlando International Airport, Restaurant and Catering Industry
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Senate approves bill to prevent local sick-time laws
TALLAHASSEE — The Florida Senate passed a response to Orange County's sick-pay battle Friday — a measure that would prevent local governments from adopting leave policies until after a state study. The bill (HB 655) cleared the Senate 25-13,...
Tags: Gainesville, Politics, Labor Legislation, National Government, Florida Legislature
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Notable Gifts: Y's after-school programs get $10K from UPS Foundation
Richmond Times-DispatchKatherine Calos notablegifts@timesdispatch.com The YMCA of Greater Richmond has received $10,000 from TheUPS Foundation for after-school programs along the Route 1 corridor. The grant will support programs at the Northside Family YMCA, Downtown...Tags: LongHorn Steakhouse, Olive Garden, Clubs and Associations, YMCA, Red Lobster
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Most kids' meals still far from healthful, group warns
Even though children's nutrition has received lots of attention the past few years, you're still more likely to find chicken fingers and fries on kids' menus than wraps and salads. Ninety-seven percent of major restaurant-chain children's meals were...
Tags: Restaurants, Dining and Drinking, French Fries, Healthy Diet, Restaurant and Catering Industry
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Chamber cheers bill to block local sick pay efforts, while churches, police union object
Central Florida Political Pulse - Orlando SentinelA bill to block paid sick time referendums such as the one pending in Orange County continued to glide through the state Senate this week while a companion measure now sits on the House calendar, a legislative push the Florida Chamber of Commerce strongly... -
Diners snub old-school chains in favor of faster fare
Casual dining is in the throes of a midlife crisis. A quarter-century ago, consumers feasted on fried appetizers, unlimited breadsticks and big desserts at Applebee's, Olive Garden and Chili's. Today, many Americans are trading those restaurants in...
Tags: Economy, Business and Finance, Corporate Officers, Restaurant and Catering Industry, Red Lobster, Orlando Restaurants
May 19, 2013
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