FCPT Announces Agreement to Acquire Up to 14 Darden Restaurant Properties for $85 Million

May 25, 2023 FCPT

Four Corners Property Trust, a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the signing of a definitive agreement to acquire up to 14 Darden restaurant properties (13 Cheddar’s Scratch Kitchen properties and 1 Olive Garden property) for a purchase price of up to $85.0 million on initial cash rent of up to approximately $5.35 million.

Darden Sues Chicken Industry, Accuse It Of Conspiring To Raise Prices

Darden Restaurants filed a lawsuit in federal court Friday accusing Tyson Foods, Pilgrim’s Pride and other companies of a “conspiracy” to increase the cost of chicken meat.