Darden to Acquire Full-Service, Tex-Mex Brand

Darden Restaurants—parent company of Olive Garden, LongHorn Steakhouse, Yard House and others—is looking to add to its mix of brands with its anticipated acquisition of Chuy’s.

Today, July 17, the duo announced that they have entered into a definitive agreement; the all-cash transaction has an enterprise value of approximately $605 million, according to the press release.

Austin, Texas-based Chuy’s has 101 restaurants in 15 states. From March 2023 to March 2024, the Tex-Mex brand generated total revenues over $450 million, and average annual restaurant volumes of $4.5 million.

“Chuy’s is a differentiated brand within the full-service dining industry with strong performance and growth potential,” says Darden President and CEO Rick Cardenas. “Based on our criteria for adding a brand to the Darden portfolio, we believe Chuy’s is an excellent fit that supports our winning strategy. I am excited to welcome their 7,400 team members to Darden and diversify the Darden portfolio into a new dining category.”