Darden Restaurants

Darden Restaurants was founded in 1968 by William B. Darden in Waycross, Georgia, opening the first Red Lobster restaurant and building the foundation for what would become the largest full-service restaurant company in the United States.

The company operates over 1,900 restaurants across eight brands including Olive Garden, LongHorn Steakhouse, and Yard House, serving approximately 380 million guests annually across the US and Canada.

Headquartered in Orlando, Florida, Darden Restaurants trades on the New York Stock Exchange under ticker DRI today.

Darden Restaurants History

• 1968
  William B. Darden opens the first Red Lobster in Waycross, Georgia, introducing an affordable casual seafood dining format that quickly attracts a national following.
• 1970
  General Mills acquires Red Lobster from William Darden, funding a national rollout that expands the brand to dozens of locations across the US through the 1970s and 1980s.
• 1982
  General Mills opens the first Olive Garden in Orlando, Florida, adding a casual Italian dining brand that grows into the company's highest-revenue chain and its core earnings driver.
• 1995
  General Mills spins off its restaurant business as Darden Restaurants Inc., listing it on the NYSE as an independent public company with Red Lobster, Olive Garden, and Bahama Breeze.
• 2014
  Under pressure from activist investors led by Starboard Value, Darden sells Red Lobster for $2.1 billion and replaces its entire board, focusing the company on Olive Garden and higher-growth brands.

FAQs

• When did Darden Restaurants come out?

  Darden Restaurants was founded in 1968 by William B. Darden with the first Red Lobster in Georgia. It became an independent public company in 1995 when General Mills spun off its restaurant division and listed it on the NYSE.
• Is Darden Restaurants an American company?

  Yes. Darden Restaurants is an American company founded in 1968 in Georgia and headquartered in Orlando, Florida. It is incorporated in Florida and listed on the New York Stock Exchange under ticker DRI.
• Who owns Darden Restaurants?

  Darden Restaurants is publicly traded on the NYSE. Vanguard Group and BlackRock are its largest institutional shareholders. No single entity holds a controlling stake. The company operates as an independent restaurant group with broad institutional ownership.
• Who made the Darden Restaurants logo?

  Darden Restaurants' corporate logo was developed through internal brand design following the 1995 spin-off from General Mills. Individual brand logos like Olive Garden and LongHorn Steakhouse have been designed and updated by external agencies over the years.