Red Lobster sale: $2 billion for seafood empire.
The Red Lobster Chain is Worth $2 Billion
The Slatest
Your News Companion
May 16 2014 12:55 PM

The Red Lobster Chain is Worth $2 Billion


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.


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.