Profile: Darden Restaurants, Inc. (DRI)

Darden Restaurants, Inc. (Darden), incorporated in March 1995, operates a full-service restaurant company and served approximately 404 million meals during the fiscal year ended May 31, 2009 (fiscal 2009). As of May 31, 2009, the Company operated through subsidiaries 1,773 restaurants in the United States and Canada. In the United States, the Company operated 1,738 restaurants in 49 states (the exception being Alaska), including 661 Red Lobster, 685 Olive Garden, 321 LongHorn Steakhouse, 37 The Capital Grille, 24 Bahama Breeze, eight Seasons 52 and two specialty restaurants: Hemenway’s Seafood Grille & Oyster Bar and The Old Grist Mill Tavern. In Canada, it operated 35 restaurants, including 29 Red Lobster and six Olive Garden restaurants.

Through its subsidiaries, the Company owns and operates all of its restaurants in the United States and Canada, except three. Those three restaurants are located in Central Florida and are owned by joint ventures managed by Darden. Of its 1,773 restaurants open on May 31, 2009, 926 were located on owned sites and 847 were located on leased sites. As of May 31, 2009, it franchised five LongHorn Steakhouse restaurants in Puerto Rico to an unaffiliated franchisee, and 25 Red Lobster restaurants in Japan to an unaffiliated Japanese corporation, under area development and franchise agreements.

Red Lobster

Red Lobster is a full-service dining, seafood specialty restaurant operator in the United States. It offers a menu featuring fish, shrimp, crab, lobster, scallops and other seafood. The menu includes a variety of specialty seafood and non-seafood entrees, appetizers and desserts. Red Lobster maintains different lunch and dinner menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as a lower-priced children’s menu.

Olive Garden

Olive Garden is a full-service dining Italian restaurant operator in the United States. Olive Garden’s menu includes a variety of Italian foods and a wine list that includes a selection of wines imported from Italy. The menu includes antipasti (appetizers); soups, salad and garlic breadsticks; baked pastas; sauteed specialties with chicken, seafood and fresh vegetables; grilled meats, and a variety of desserts. Olive Garden also uses coffee imported from Italy for its espresso and cappuccino. Olive Garden maintains different menus for dinner and lunch and different menus across its trade areas to reflect geographic difference in consumer preferences, prices and selections, as well as children’s menus.

LongHorn Steakhouse

LongHorn Steakhouse restaurants are full-service establishments serving both lunch and dinner. With locations in 29 states, primarily in the Eastern half of the United States, LongHorn Steakhouse restaurants feature a variety of menu items, including steaks, as well as salmon, shrimp, chicken, ribs, pork chops, burgers and prime rib. LongHorn Steakhouse maintains different menus for dinner and lunch and different menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as a lower-priced children’s menu.

The Capital Grille

The Capital Grille has locations in metropolitan cities in the United States. The Capital Grille maintains different menus for dinner and lunch, and different menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections.

Bahama Breeze

Bahama Breeze restaurants’ menu features Caribbean-inspired fresh seafood, chicken and steaks, as well as specialty drinks. Bahama Breeze maintains different menus for dinner and lunch and different menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as lower-priced children’s menus.

Seasons 52

Seasons 52 offers an international wine list of approximately 90 wines, with 64 available by the glass. Seasons 52 operates eight existing restaurants.