Red Lobster sale: $2 billion for seafood empire.

The Red Lobster Chain is Worth $2 Billion

The Slatest
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May 16 2014 12:55 PM

The Red Lobster Chain is Worth $2 Billion

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Red Lobster

There are around 700 Red Lobster restaurants, which means that Golden Gate Capital is giving Darden about $3 million for each location. Of course, a money-for-restaurants transaction is not literally what's happening, because there is presumably a lot of value in the widely-recognized Red Lobster brand itself.

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Golden Gate is expected to try to jump-start the chain's fortunes by reviving its wildly successful 1970s advertising slogan "It's Time to Shovel Some Buttered Seafood Into Your Face-Hole." *

* Sentence is completely false.

Ben Mathis-Lilley edits the Slatest. Follow @Slatest on Twitter.

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