Skip to content
Subscriber Only

Darden Split Plan May Hinder Real Estate Deal, Activist Says

Darden Restaurants Inc.’s plan to split off Red Lobster could prevent the company from unlocking the $4 billion of value trapped in its real estate holdings, according to Barington Capital Group LP.

“Not only does Darden’s plan fail to pursue these opportunities, it could hinder the company’s ability to monetize its real estate in the future,” Barington said today. Last month, the activist investor, which says it represents shareholders who own more than 2 percent of Darden, recommended the $6.8 billion company create a publicly traded real estate investment trust.