Darden Restaurants, Inc.
Company History
Darden Restaurants History: Founding, Growth & Key Milestones
Founded 1938 in Orlando, Florida
When was Darden Restaurants founded?
Darden Restaurants was founded in 1938 in Orlando, Florida by Bill Darden and General Mills, making it 88 years old.
- Founded
- 1938
- Founding place
- Orlando, Florida
- Founders
- Bill Darden and General Mills
- Headquarters today
- Orlando, Florida
- Milestones documented
- 12 (1938–2026)
- Current CEO
- Rick Cardenas
- Acquisitions
- 6
| Year | Event |
|---|---|
| 1938 | Bill Darden Opens The Green Frog |
| 1968 | Red Lobster Founded |
| 1970 | General Mills Acquires Red Lobster |
| 1982 | Olive Garden Launches |
| 1995 | Darden Becomes Public |
| 2007 | RARE Hospitality Acquired |
| 2014 | Red Lobster Sold |
| 2017 | Cheddar's Scratch Kitchen Acquired |
| 2023 | Ruth's Hospitality Group Acquired |
| 2024 | Chuy's Added |
| 2026 | FY2026 Sales Reach $13.2109B |
| 2026 | Bahama Breeze Exit Announced |
- Where was Darden Restaurants founded?
- Darden Restaurants was founded in Orlando, Florida in 1938.
- Who founded Darden Restaurants?
- Darden Restaurants was founded by Bill Darden and General Mills.
- When did Darden Restaurants start?
- Darden Restaurants was founded in 1938.
- How old is Darden Restaurants?
- Darden Restaurants is 88 years old as of 2026.
Founding Story
Bill Darden opened his first restaurant, The Green Frog, in Waycross, Georgia, in 1938 at age 19. Thirty years later, in 1968, he opened the first Red Lobster in Lakeland, Florida, betting that inland middle-class families wanted affordable seafood in a casual setting. General Mills bought Red Lobster in 1970 and kept Darden involved as it expanded the chain nationally. General Mills opened the first Olive Garden in Orlando in 1982, and in 1995 spun off its restaurant group as an independent public company named Darden Restaurants.
Founders
Bill Darden
William 'Bill' Darden opened The Green Frog in Waycross, Georgia, in 1938 at age 19. In 1968 he opened the first Red Lobster in Lakeland, Florida, offering seafood to middle-class families at casual-dining prices. General Mills bought Red Lobster in 1970 and kept Darden involved as it grew nationally. When General Mills spun off its restaurant group in 1995, the new public company was named Darden Restaurants in his honor. Bill Darden was born in 1918.
General Mills
General Mills acquired Red Lobster in 1970 and used its capital to expand the chain nationally. It opened the first Olive Garden in Orlando in 1982. In 1995 it spun off the restaurant group to shareholders as Darden Restaurants, a separate NYSE-listed company. (Exact birth year remains publicly undisclosed).
Key Milestones
Bill Darden Opens The Green Frog
Bill Darden opens The Green Frog in Waycross, Georgia, establishing the hospitality roots later tied to the Darden name.
Source: en.wikipedia.orgRed Lobster Founded
Bill Darden opens the first Red Lobster in Lakeland, Florida, creating the seafood chain that becomes the foundation of the future company.
Source: en.wikipedia.orgGeneral Mills Acquires Red Lobster
General Mills acquires Red Lobster and gives the brand capital and systems to expand nationally.
Source: en.wikipedia.orgOlive Garden Launches
General Mills opens the first Olive Garden, which later becomes Darden's largest restaurant brand.
Source: en.wikipedia.orgDarden Becomes Public
General Mills spins off its restaurant business as Darden Restaurants, an independent public company.
Source: en.wikipedia.orgRARE Hospitality Acquired
Darden bought RARE Hospitality, owner of LongHorn Steakhouse and The Capital Grille, in 2007 for about $1.4 billion.
Source: en.wikipedia.orgRed Lobster Sold
Darden sells Red Lobster and refocuses around Olive Garden, LongHorn Steakhouse, and specialty dining brands.
Source: en.wikipedia.orgCheddar's Scratch Kitchen Acquired
Darden bought Cheddar's Scratch Kitchen in 2017 for about $780 million.
Source: en.wikipedia.orgRuth's Hospitality Group Acquired
Darden acquires Ruth's Hospitality Group, adding Ruth's Chris Steak House to the fine-dining portfolio.
Source: en.wikipedia.orgChuy's Added
Darden completes the acquisition of Chuy's, adding a Tex-Mex brand to the portfolio.
Source: en.wikipedia.orgFY2026 Sales Reach $13.2109B
Darden reports $13.2109B in FY2026 sales and 2,202 company-owned restaurants at year-end.
Source: sec.govBahama Breeze Exit Announced
Darden says all Bahama Breeze locations will be closed or converted to other brands by Q4 FY2027, leaving nine brands; Q1 FY2027 sales rise 5.1% to $3.2B.
Source: investor.darden.comMajor Acquisitions
Rare Hospitality International
2007Added LongHorn Steakhouse and The Capital Grille, giving Darden stronger steakhouse exposure across casual and fine-dining occasions.
Eddie V's Restaurants
2011Added Eddie V's Prime Seafood and The Wildfish Seafood Grille to expand Darden's higher-ticket seafood and steakhouse presence.
Yard House
2012Expanded Darden into polished casual dining with a high-energy bar, beer, and broad-menu concept.
Cheddar's Scratch Kitchen
2017Added a value-oriented casual dining brand focused on scratch cooking and broad family appeal.
Ruth's Hospitality Group
2023Added Ruth's Chris Steak House and expanded Darden's premium steakhouse exposure.
Chuy's Holdings
2024Added a Tex-Mex casual dining concept and new restaurant development option.
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Darden Restaurants Company History FAQ
What were the major historical eras of Darden Restaurants from 1968 to 1995?
Founded in 1968 by Bill Darden with Red Lobster, acquired by General Mills in 1970, launched Olive Garden in 1982, and spun off as an independent public company (Darden Restaurants, Inc.) on the NYSE in May 1995.
When did Darden acquire LongHorn Steakhouse and The Capital Grille?
In 2007 Darden acquired RARE Hospitality in a deal valued at about $1.4 billion including debt, adding LongHorn Steakhouse and The Capital Grille. LongHorn is now Darden's second-largest brand.
What occurred during the Starboard Value activist proxy contest in 2014?
In October 2014, activist hedge fund Starboard Value won a historic proxy fight, replacing Darden's entire 12-member Board of Directors. The new board named Gene Lee as CEO, initiating operational reforms that drove Darden's stock to all-time highs.
When did Darden acquire Cheddar's Scratch Kitchen and expand value dining?
In April 2017, Darden acquired Cheddar's Scratch Kitchen for $780 million, adding made-from-scratch American classics and expanding Darden's footprint across 165 high-volume locations.
How did Darden handle the COVID-19 pandemic restaurant shutdowns in 2020?
During 2020 lockdowns, Darden pivoted to digital To-Go operations at Olive Garden and LongHorn, maintained health benefits for furloughed workers, preserved liquidity, and reopened with streamlined menus that permanently expanded restaurant operating margins.
When did Rick Cardenas become Chief Executive Officer of Darden Restaurants?
In May 2022, Rick Cardenas officially assumed the role of CEO of Darden Restaurants, succeeding Gene Lee and completing a 38-year journey from an hourly busboy to Chief Executive.
What major brand acquisitions did Darden complete in 2023 and 2024?
Darden acquired Ruth's Chris Steak House for $715 million in June 2023 and Chuy's Tex-Mex for $605 million in October 2024, expanding Darden's total restaurant portfolio past 2,000 units.
What are Darden Restaurants' priorities in 2026?
Darden is focused on same-restaurant sales growth, opening new restaurants (53 net new over the 12 months to Q1 FY2027), exiting Bahama Breeze by Q4 FY2027, and returning cash through a $1.62 quarterly dividend and a $1.5 billion buyback. FY2027 EPS guidance is $11.10 to $11.35.
Was Darden owned by General Mills?
Yes! In 1970, General Mills aggressively acquired a massive stake in a small, five-unit Florida seafood chain called Red Lobster. Over the next 25 years, General Mills built an entire restaurant division (adding Olive Garden), before spinning it all off in 1995 as the independent company Darden Restaurants.
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