Press Release

Kirkland Advises Golden Gate Capital in Agreement to Acquire Red Lobster Restaurant Chain

Kirkland represented Golden Gate Capital in its agreement announced today to acquire the Red Lobster restaurant chain from Darden Restaurants, Inc. (NYSE: DRI) for $2.1 billion in cash.  The deal is expected to close in the first fiscal quarter of 2015.  In connection with the transaction, Golden Gate also entered into an approximately $1.5 billion sale-leaseback transaction with American Realty Capital Properties, Inc. (NASDAQ: ARCP) for more than 500 Red Lobster restaurant properties. The sale-leaseback transaction will be consummated in conjunction with Golden Gate’s acquisition of Red Lobster from Darden. 

The Kirkland team was led by corporate partners Mikaal Shoaib and Tana Ryan, and real estate partners John Caruso, Joshua Hanna and Kevin Garland.