M&A · Industrials · Retail-Eating Places
Darden Restaurants Inc to acquire Chuy's Holdings, Inc.
Announced Jul 17, 2024 · Closed Oct 11, 2024
Deal value$605MEV $605M
Premium47.9%To unaffected price
EV / Adj. EBITDA9.6x1.3x EV / Revenue
ConsiderationAll cash$37.50 per share
Transaction
- Acquirer
- Darden Restaurants Inc (DRI)
- Target
- Chuy's Holdings, Inc. (CHUY)
- Buyer type
- Strategic
- Offer price per share
- $37.50
- Enterprise value
- $605M
- Status
- Closed Oct 11, 2024
Deal protections
- Break fee (target pays)
- $22.4M · 3.7%
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- BofA Securities
- To the target
- Piper Sandler
Sector context · Industrials
- Comparable deals
- 81 in the prior 24 months
- Premium
- 47.9% vs. 35.0% sector median
- EV / Adj. EBITDA
- 9.6x vs. 9.3x sector median
- Break fee
- 3.7% vs. 2.8% sector median
Timeline
- AnnouncedJul 17, 2024
- Proxy filedAug 20, 2024
- Definitive proxySep 5, 2024
- Shareholder voteOct 10, 2024
- ClosedOct 11, 2024