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Darden Restaurants, Inc.

Darden Restaurants, Inc.
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...
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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.
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  • Darden fights EEOC age discrimination suit

    Darden fights EEOC age discrimination suit
    Darden Restaurants is continuing to battle the EEOC in a federal lawsuit filed in February where the government alleges age discrimination in hiring at Seasons 52 restaurants.
  • Darden lists I-Drive Olive Garden for sale at hefty price

    Darden lists I-Drive Olive Garden for sale at hefty price
    Darden Restaurants has listed one of its flagship restaurants, a large Olive Garden on International Drive, for sale at a hefty price. It’s part of the company’s new strategy for selling off its real estate to focus on the business of...

    Orlando firm rolling with web tire store

    Orlando firm rolling with web tire store
    Timothy Shaffer wants to make the world of buying tires as easy as airfare and hotels. The Orlando entrepreneur launched Tireconsumer.com last week, making an online collection of automotive tires and prices across the state. "Online retailers are...

    Olive Garden putting tablets at all its tables

    Olive Garden putting tablets at all its tables
    Olive Garden will put tabletop tablets in all 845 restaurants nationwide starting in May, allowing customers to order appetizers and drinks from the devices. Orlando-based Darden Restaurants has been testing the tablets at a few Central Florida Olive...

    Tablet for 2 waiting at an Olive Garden near you soon

    Olive Garden has a tablet for two waiting for you. The Italian restaurant chain said Tuesday that it is installing Ziosk computer tablets at all of its U.S. locations so customers can order and pay by touch screen. Olive Garden, owned by Florida's...