This week on Nation’s Restaurant News, Olive Garden parent Darden to acquire Ruth’s Chris in $715M deal ranked as the week's top story. Orlando, Fla.-based Darden, which also owns the LongHorn Steakhouse and Cheddar’s Scratch Kitchen brands among others, said it will commence a tender offer of $21.50 a share for Ruth’s shares in an all-cash transaction. Fine-dining steakhouse Ruth’s Chris is based in Winter Park, Fla.
In other news, Subway has announced the first update to its Subway Series menu since its launch in July 2022, including the addition of new sandwiches and upgraded sandwiches. The Subway Series now includes 18 selections, versus 12, and double the cheese. Four classic sandwiches are joining the lineup, including Sweet Onion Teriyaki, Italian B.M.T., Chicken & Bacon Ranch and Spicy Italian. Each will feature a few changes.
Also, after about a year of deflated growth and delivery-related challenges, including slow staffing, Domino’s is switching strategies to boost momentum through a growing carryout business. U.S. same-store sales continue to improve at 3.6% growth for the first quarter ended March 26, 2023, bolstered by carryout, which now contributes about half of the orders systemwide and 40% of sales.
Get these stories and more in this week’s gallery.
