Yard House sells to...owner of Olive Garden?

Categories: The Dish

yardhouseburgerfull.jpg
A veggie Yard House burger...that's a lot of lettuce!
Former local boy Steele Platt has made very, very good: Darden Restaurants -- an Orlando-based company that operates Olive Garden and Red Lobster, among other chains -- announced today that it has agreed to buy Yard House USA Inc. for $585 million -- cash, according to Nation's Restaurant News.

There are 39 Yard House stores across the country, including three in Colorado; one opened in Park Meadows on July 1,and the other two are in Colorado Mills and downtown Denver. Platt, who had a series of restaurants in the Tivoli in the '80s, opened the first Yard House in California in 1996.

Platt and Yard House co-founders Harald Herrmann and Carlito Jocson "have created one of the most differentiated and exciting restaurant brands in America today, with average unit volumes and returns on capital that are among the highest in the industry," Clarence Otis, Darden's chief executive, said in a statement."Guests in a number of different markets are responding to Yard House's unique combination of hand-crafted food, premium beers and other beverages, thoughtful soundtracks, and elegantly designed restaurants. This combination has established Yard House as a great place for wide range of occasions."

But Platt and his co-founders won't be collecting all the cash from Darden. Yard House sold a 70 percent stake in the chain to a San Francisco private equity firm back in 2007, according to Orange County Business News.

Location Info

Venue

Map

Yard House

8437 Park Meadows Center Drive, Lone Tree, CO

Category: Restaurant

Yard House

14500 W. Colfax Ave., Golden, CO

Category: Music

Yard House

1555 Court Place, Denver, CO

Category: Restaurant

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5 comments
Sam
Sam

Yardhouse is a simply amazing in one fact. That is if you were given 110 taps for beer, would it be possible to fill just about all 110 lines with macro and uninspiring "craft" beers? My gosh they have done it! I always got a kick that when Star Bar just had 5 or so handles (since added more) and would blow the crap selection at Yardhouse out of the water with 20x the taps.

Rusty Shackleford
Rusty Shackleford

 Yup. Look at the locations: Lakewood, Lone Tree/Highlands Ranch and the Sixteenth Street Tourist Strip.

Jesus Laws are the Best
Jesus Laws are the Best

I'm not sure why any yard houses exist in colorado? Is it because of suburbanites and out of towners are too afrad to eat/drink in local ale houses (considering we have a billion of them) 

Alatthepost
Alatthepost

Worst company I've ever worked for sold to the second worst company. Ahhahaha

Adamde
Adamde

Good for him. No shame in selling out when you're selling for those kind of duckets.

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