The Lone Star State’s beloved Tex-Mex restaurant chain Chuy’s has a brand new proprietor: In accordance with a launch, the chain has been acquired by Darden Eating places, Inc., the Florida-based hospitality firm that additionally owns Olive Backyard, LongHorn Steakhouse, Yard Home, Ruth’s Chris Steak Home, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s, and Bahama Breeze.
The 2 firms have entered right into a definitive settlement wherein Darden will purchase the entire excellent shares of Chuy’s for $37.50 per share, in an all-cash transaction with a price of roughly $605 million.
Based in Austin in 1982, Chuy’s is thought for its genuine, Tex-Mex meals served in a enjoyable, eclectic, irreverent ambiance, with every location boasting its personal distinctive, non-chain really feel — expressed so cleverly by Chuy’s motto: “In the event you’ve seen one Chuy’s, you have seen one Chuy’s!” They presently have 101 places in 15 states together with 4 places in San Antonio. There’s additionally one in New Braunfels and one in San Marcos.
Their dishes function irreverent names like their Huge As Yo’ Face Burritos and their signature Chicka-Chicka-Growth-Growth Enchiladas. The chain can be well-known for its early embrace of Hatch chiles, internet hosting an annual “Hatch Inexperienced Chile Competition” yearly through the season, showcasing a menu with particular Hatch chile dishes.
Darden president and CEO Rick Cardenas says in an announcement that Chuy’s is “a superb match” for the corporate, whereas Chuy’s chairman/CEO/president Steven Hislop says they’re excited to affix the Darden household.
“Darden shares lots of our similar core values, notably our working philosophy and powerful staff member cultures,” Cardenas says. “Collectively we’ll speed up our enterprise targets and convey our genuine, made-from-scratch Tex-Mex to extra visitors and communities.”
Chuy’s board of administrators unanimously permitted the merger settlement which features a 30-day “go-shop” interval that may enable Chuy’s to solicit various proposals from events.
