Red Lobster Being Sold for $2.1 Billion

(CNN) — Restaurant chain Red Lobster is getting a new owner. Darden Restaurants announced Friday that it’s selling the chain to Golden Gate Capital for a whopping $2.1 billion. Darden says the sale is not subject to shareholder approval. Golden Gate will have its work cut out for it. Red Lobster’s same-store sales in the … Continue reading »