Today, we’re excited to announce that Chuy’s has entered into an agreement to be acquired by Darden Restaurants.

This marks a significant new chapter in our company’s history and opens up unprecedented opportunities for growth and expansion.

Darden is a world-class restaurant company located in Orlando, Florida, featuring a portfolio of iconic brands — Olive Garden, LongHorn Steakhouse, Yard House, Ruth’s Chris Steak House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s and Bahama Breeze.

Led by some of the best operators in the industry, they own and operate more than 2,000 restaurants that generate $11 billion in annual sales and employ more than 190,000 team members.

Chuy’s is a strong, differentiated brand that complements Darden’s portfolio by allowing Darden to compete in a new dining category that they aren’t competing for today. We also have ample runway for new restaurant growth and the ability to make a meaningful impact to Darden’s financial performance. Further, we’re a strong cultural fit. Our companies share a similar operating philosophy as well as the same passion for our people.

We anticipate to close as early as mid-October, subject to customary closing conditions. Until then, it’s business as usual, and we must maintain our focus on delivering exceptional experiences to our customers.

The Boards of both companies have already approved the transaction. The closing is subject to customary conditions for a deal of this type.

This will be the seventh brand Darden has acquired since 2007 and they have significant experience in this process. They have an experienced team, who just completed the integration of Ruth’s Chris Steak House over the past year, ready to manage the integration to ensure it proceeds as smoothly and quickly as possible.

Being part of Darden — benefitting from their competitive advantages, infrastructure and expertise in developing and nurturing brands — will enable us to continue investing in our future. The growth we will be able to achieve as part of Darden also means more opportunities for our team members. We will be stronger as part of the Darden family and we will make Darden a stronger company.

We believe this is truly a win-win situation for both parties.

Chuy’s will help Darden compete in the Tex-Mex casual dining segment, and Darden will enhance our overall growth potential as a result of Darden’s resources and experience.

The resulting combination will provide even greater value to our customers and more opportunities for our employees.

We’ll continue to operate as the Chuy’s our customers know and love.

Chuy’s will operate as a distinct brand within Darden’s portfolio, with our leadership reporting into Darden’s broader structure.

We will be integrating our headquarter operations to Darden’s location in Orlando, Florida following the close of the deal and a transition period.

Specific roles and any changes to structure will be determined as we move forward with the integration process, and we will share next steps on the integration process at the appropriate time.

There are incredible similarities in how we lead our teams and run our restaurants. Our shared beliefs and values will help ensure a smooth transition as we continue delivering exceptional guest experiences.

Darden wants to preserve the unique culture that has made Chuy’s successful since 1982. Both companies are culturally aligned — we share a similar operating philosophy, as well as the same passion for our team member culture. Together, we will be able to make an impact on even more team members and guests.

Yes. There is ample runway for growth, which is one of the reasons they were attracted to us.

While we do not have a specific timetable for integration, our goal is to begin the process as soon as possible after the deal closes.

Our commitment to high-quality, made-from-scratch Tex-Mex cuisine remains unchanged. We’ll continue to offer generous portions at competitive prices.

No. There are no plans to close or sell any locations.

No. Any previous closures prior to this announcement have been unrelated.

Yes. Nothing changes.

Nothing changes in the short term. Throughout the integration process, we will evaluate how Darden’s systems and support can improve our ability to take care of our guests and team members. And where we find opportunities, we will work to integrate new support mechanisms in a way that does not disrupt restaurant operations.

No. Darden is committed to operating our restaurants with the same great teams we have in place today.

No. Darden is committed to operating our restaurants with the same great teams we have in place today.

Each brand within Darden is responsible for the operation of their restaurants. The brands benefit from the strength of Darden’s support structure.

No. It’s business as usual. We need to stay focused on the business at hand — delivering great guest experiences.

Your compensation remains the same in the short term, and we are committed to sharing information should that change.

Yes. Darden has a history of honoring tenure when they acquire new brands.

Nothing changes for you in the short term. After the deal closes, you will receive more information about Darden, its pay practices and the company’s Total Rewards programs.

Formal transition dates for our programs, including benefits, are still being determined, and we are committed to communicating information as decisions are made.

Darden offers a broad array of health, retirement, leave and voluntary programs to our eligible salaried and hourly team members. After the deal closes, you will receive more information about Darden and the company’s Total Rewards programs.

We don’t know the answer to that question right now. But we’ll address it as soon as we have an answer.

Our communications plan includes keeping you updated on key milestones throughout the process.

Darden’s strong culture is supported by our Restaurant Support Center (RSC) team working together under one roof. For Chuy’s to benefit from Darden’s competitive advantages, we will consolidate the support functions to the RSC in Orlando. As we determine the right support structure for Chuy’s and Darden, there may be opportunity for some — though not all — to be offered positions and relocation to the RSC.

As part of our acquisition by Darden Restaurants, we’ll be integrating our home office operations with Darden’s headquarters in Orlando. This move allows us to better leverage Darden’s resources and expertise.

Yes. Darden has a history of honoring tenure when they acquire new brands.

As we begin integration, we will determine the right support structure for Chuy’s, and opportunities that may be available at Darden’s Restaurant Support Center in Orlando. Right now, it’s too early in the process to speculate about exact numbers. Throughout this process, everyone will be treated fairly and with respect.

For us to benefit from Darden’s competitive advantages, we will need to consolidate the support functions that are located in the Austin home office. However, it would be premature to speculate on exact numbers at this time. Everyone will remain employed for at least 120 days after the closing of the deal.

Within the first 60 days following the closing of the transaction, you will know if you will be offered a position at the Restaurant Support Center in Orlando or, if not, whether additional time beyond the 120 days will be needed to support the integration process.

Each of you who stay until the final date your role is needed for transition will receive a retention bonus. This will be equal to 50% of your salary starting with the close of the transaction until you are offered a permanent position or until the final date your role is needed.

If you are not offered a position or choose not to accept the position, and you stay until the final date your role is needed for transition, you will also receive...

A prorated 2025 target bonus based on the number of weeks worked after December 29, 2024, the end of Chuy’s current fiscal year.

A severance and outplacement package that includes support to help you during your transition.

Darden offers a broad array of health, retirement, leave and voluntary programs to our eligible salaried and hourly team members. After the deal closes, those offered roles with Darden will receive more information about the company’s Total Rewards programs.

While we don’t have a specific date yet, the move will occur after the deal closes, which we expect to happen in the coming months, followed by a transition period. We’ll keep all employees informed of important milestones throughout the process.

All home office employees that are offered a role at Darden’s Restaurant Support Center will be required to relocate to Orlando.

No, it’s business as usual. We need to stay focused on the business at hand — providing great support to our restaurant teams.

Formal transition dates for our programs, including benefits, are still being determined, and we are committed to communicating information as decisions are made.

Specific details will be communicated to employees offered positions at the RSC in Orlando.

Immediately after close, your base salary and benefits will remain the same, and each of you will receive your 2024 target bonus as regularly scheduled in accordance with your current bonus guidelines. Those offered a position at the Restaurant Support Center in Orlando will receive more information about Darden’s compensation packages.

While some changes may occur as we integrate with Darden, our priority is ensuring a smooth transition that preserves Chuy’s unique culture and operational excellence.

Such arrangements will be discussed as we progress through the integration process.

Our commitment to preserving Chuy’s unique culture remains unwavering. As we say, “If you’ve seen one Chuy’s, you’ve seen one Chuy’s.” Our strong culture is the backbone of Chuy’s and that will not change.

There are no plans to offer any early retirement packages at this time.

We’re committed to maintaining our focus on current operations and projects as we close this transaction.

As we determine the right support structure for Chuy’s and Darden, there may be opportunity for some — though not all — to be offered positions and relocation to the RSC in Orlando.

We will address this as we progress through the integration process.

We have an open door policy for questions and concerns throughout this process. Employees are encouraged to bring any additional questions or concerns to their managers or HR representatives.

Our communications plan includes keeping you updated on key milestones throughout the process.