Replies to post #13407 on The Rising Influence of Rising Affluence

[DewDiligence]

DRI—(+9.3%)—biggest gainer in S&P 500 today on acquisition of Cheddar’s:

https://www.wsj.com/articles/BT-CO-20170327-710370

Casual-restaurant chain Cheddar's Scratch Kitchen will soon share ownership with the likes of Olive Garden, LongHorn Steakhouse and the Capital Grille.

Darden Restaurants Inc. on Monday struck a $780 million cash deal to buy the 165-restaurant Texas chain from stockholders including private-equity firms L Catterton and Oak Investment Partners.

…In Cheddar's, Darden gets a chain with a traditional American menu ranging from chicken tenders and cheese fries to seafood and chicken pot pie.

Darden, spun off from General Mills in 1995, has more than 1,500 restaurants, with Olive Garden accounting for the bulk of locations -- and sales. In 2014, Darden sold Red Lobster, once its No. 2 chain, to private-equity firm Golden Gate Capital to focus on Olive Garden, introducing cheaper items and smaller plates at the casual Italian chain.

I owned DRI briefly several years ago, but do not currently own (or closely follow) any restaurant stocks.

See #msg-125572625 and #msg-69666780 for related info.