BNET Industries

Rare Hospitality International Inc.

(RARE) is in the Food Industry

Last Fiscal Year Sales:$936.5M

Public
US

Dow Jones Description

Rare Hospitality shows just how 'well done' a casual-dining restaurant can be. Founded in 1981 and headquartered in Atlanta, GA, Rare Hospitality International, Inc. (NASDAQ-GS: RARE) is the owner and operator of multi-concept restaurants. It operates and franchises Capital Grille, Longhorn Steakhouse, Bugaboo Creek Steak House, Hemenway's Seafood Grille & Oyster Bar and The Old Grist Mill Tavern. It currently owns and operates over 300 restaurants, the bulk of which are LongHorn Steakhouses. The company employs about 18,700 people and it had 2005 revenue of about $936.6 million. The company opened Seven Longhorn restaurants in the second quarter of fiscal 2006.

CEO

Philip J. Hickey Jr.

Number of Employees 18,700

Contact Information

8215 Roswell Rd Bldg 600

Atlanta, Georgia 30350-6445

www.rarehospita...

1 770 399 9595

Peer Companies

NAICS Code Full-Service Restaurants: 722110

News & Analysis

rare hospitality international inc. - All News and Analysis

Darden sells $1.15b in debt to cover Rare acquisition

- 2007-10-22

ORLANDO, FLA. -- Darden Restaurants Inc., owner of the Red Lobster and Olive Garden chains, sold $1.15 billion in debt to repay the interim credit facility it used to fund the company's acquisition of Rare Hospitality International Inc., according to statements filed with regulators Oct. 11. Darden's $1.4 billion...

Tags: Darden Restaurants Inc., Rare Hospitality International Inc.
Darden completes tender offer for Rare Hospitality

- 2007-10-08

ORLANDO, FLA. -- Darden Restaurants Inc. has completed its tender offer for Rare Hospitality International Inc., giving the industry's largest casual-dining operator control of 283 LongHorn Steakhouse and 29 upscale Capital Grille restaurants that post annual sales of about $1 billion. Darden, Orlando-based parent of the Olive Garden and...

Tags: Darden Restaurants Inc., Rare Hospitality International Inc.
Darden secures $1.9B financing to fund the acquisition of Rare

- 2007-10-08

ORLANDO, FLA. -- Darden Restaurants Inc.'s pending acquisition of Rare Hospitality International Inc. took another step toward its expected closing this month as the company secured two new credit agreements totaling $1.9 billion to help finance the deal, Darden said in late-September filings with securities regulators. Darden's purchase of...

Tags: Darden Restaurants Inc., Rare Hospitality International Inc.
RARE Hospitality 2.5% Convertible Notes Due 2026 Become Convertible

- 2007-10-02

ATLANTA -- RARE Hospitality International, Inc. (Nasdaq: RARE) announced on October 1, 2007, that, as a result of the successful completion of the tender offer by a wholly owned subsidiary of Darden Restaurants, Inc. to acquire all outstanding shares of common stock of RARE, at a price of $38.15 per...

Tags: Rare Hospitality International Inc.
RARE Hospitality International, Inc. Receives the Requisite Consents Pursuant to Its Consent Solicitation for Its 2.5% Convertible Notes Due 2026

- 2007-09-24

ATLANTA -- RARE Hospitality International, Inc. (Nasdaq: RARE) announced today that it has received the requisite consents from holders of its 2.5% Convertible Senior Notes due 2026 (CUSIP No. 753820AB5 and CUSIP No. 753820AA7) (the "Notes") to amend i the registration rights agreement, dated as of November 22, 2006 (the...

Tags: Rare Hospitality International Inc.

Darden Restaurants and Rare Hospitality International Announce Early Termination Of Hart-Scott-Rodino Act Waiting Period

- 2007-09-14

FOOD AND BEVERAGE CLOSE-UP-14 September 2007-Darden Restaurants and Rare Hospitality International Announce Early Termination Of Hart-Scott-Rodino Act Waiting PeriodC2007 - CloseUpMedia - newsdesk@closeupmedia.com On September 13, 2007, Darden Restaurants, Inc. and RARE Hospitality International, Inc. received notification from the Federal Trade Commission FTC that the FTC has granted early...

Tags: Darden Restaurants Inc., Rare Hospitality International Inc.
Press-stopping power of Darden-Rare merger shows industry's potential to make headlines

- 2007-09-10

Here's a prediction for you: When Nation's Restaurant News' Top 100 issue rolls off the presses next June, there's a good chance that Darden Restaurants Inc. will report total U.S. foodservice revenues exceeding those of McDonald's Corp. And in the derby for the title of largest domestic foodservice operator,...

Tags: Darden Restaurants Inc., Rare Hospitality International Inc.
Darden stakes claim in new category with Rare purchase: acquisition of the LongHorn, Capital Grille parent has both companies poised for growth, analysts say

- 2007-08-27

ORLANDO, FLA. -- The pending merger of casual-dinnerhouse giants Darden Restaurants Inc. and Rare Hospitality International Inc. generally is viewed as positioning both companies for revved-up growth, even as some observers expressed concern about the continuing sluggishness in the casual-dining segment. Orlando-based Darden said Aug. 16 it would acquire...

Tags: Darden Restaurants Inc., Rare Hospitality International Inc.
Darden Restaurants to Buy Rare Hospitality International for 1.21 Times Revenue

- 2007-08-27

The Deal: Darden Restaurais Inc. has entered into a definitive agreement under which it will make a cash tender offer of $38.15 per share, or about $1.19 billion, for Rare Hospitality International Inc. The boards of both companies unanimously approved the transaction. The purchase price represents a premium of 39...

Tags: Darden Restaurais Inc., Rare Hospitality International Inc.
RARE Hospitality International to Simulcast Presentation at the 17th Annual Wachovia Nantucket Equity Conference on Tuesday, June 26th

- 2007-06-20

ATLANTA -- RARE Hospitality International, Inc. (NASDAQ: RARE), today announced that it will participate in the 17thAnnual Wachovia Nantucket Equity Conference, which takes place June 25th through June 28th in Nantucket, Massachusetts at the Harbor House Village. There will be an on-line simulcast of the Company's presentation available at the...

Tags: RARE Hospitality International Inc., Wachovia Corp.

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Decision Makers

Name (plus bio)	Position
Philip J. Hickey Jr.	CEO
David C. George	President, Longhorn Steakhouse
Eugene I. Lee Jr.	President
Benjamin Waites	Chief Accounting Officer
E xecutive Profiles	Executive Vice President of Human Resources
Thomas W. Gathers	Executive Vice President, Human Resources
Cathy D. Hampton	Vice President
John Martin
Dick R. Holbrook	Director
Don L. Chapman	Director
James D. Dixon	Director
Lewis H. Jordan	Director
Roger L. Boeve	Director
Ronald W. San Martin	Director

Board of Directors

Name (plus bio)	Position
Carolyn H. Byrd	Board of Directors
George W. McKerrow Sr.	Board of Directors
W. Douglas Benn	Board of Directors

Organization	Position	Status
Rare Hospitality International, Inc.	CEO	Current
O'Charley's Inc.	Chair of Board	Current
Rare Hospitality International, Inc.	Chairman	Current
Michigan State University	Member, Board of Advisors	Current
Metro Atlanta Chamber of Commerce	Director	Current
National Restaurant Association	Director	Current
O'Charley's Inc.	Chief Executive Officer of Park Row Ventures	Former
Rare Hospitality International, Inc.	President	Former
Rare Hospitality International, Inc.	Coo	Former
Belmont University	Adjunct Professor, Massey Business School	Former
Longhorn Steakhouse		Former
Michigan State University	Bachelor Degree In Hotel & Restaurant Management	Former

Organization	Position	Status
Longhorn Steakhouse	President	Current
Rare Hospitality International, Inc.	President, Longhorn Steakhouse	Current
Darden Restaurants, Inc.	President of Longhorn Steakhouse	Current
Longhorn Steakhouse	Rare S Senior Vice President of Operations	Former
The Capital Grille	Vice President, Operations	Former
Battleground Restaurant Group Inc.	Vice President, Operations	Former
Longhorn Steakhouse	Vice President, Operations, North	Former
Michigan State University	Bachelor's Degree In Hotel & Restaurant Management	Former

Organization	Position	Status
Rare Hospitality International, Inc.	President	Current
Rare Hospitality International, Inc.	Director	Current
Bugaboo Creek Steakhouse	President	Former
Bugaboo Creek Steakhouse	Chief Operating Officer	Former
Rare Hospitality International, Inc.	Coo	Former
Rare Hospitality International, Inc.	Executive Vice President, Operations, the Bugaboo Creek Steak House	Former
Suffolk University	Masters in Business Administration	Former

Organization	Position	Status
Rare Hospitality International, Inc.	Chief Accounting Officer	Current
Rare Hospitality International, Inc.	Board of Directors	Current
Rare Hospitality International, Inc.	Vice President	Former
Rare Hospitality International, Inc.	Corporate Controller	Former
Avado Brands, Inc.		Former
Harding University	Bachelor of Business Administration degree in Accounting	Former
Harding University	Business Administration Degree In Accounting	Former

Organization	Position	Status
Rare Hospitality International, Inc.	Executive Vice President of Human Resources	Current
Darden Restaurants, Inc.		Former
Pizzeria Uno Corporation		Former
Longhorn Steakhouse		Former
University of Miami	masters degree in Organizational Training	Former
Indiana University of Pennsylvania	bachelors degree in Government Administration	Former

Organization	Position	Status
Rare Hospitality International, Inc.	Executive Vice President, Human Resources	Current
Darden Restaurants, Inc.	NA	Former
University of Miami	Masters Degree In Organizational Training	Former
Indiana University of Pennsylvania	Bachelors Degree In Government Administration	Former

Organization	Position	Status
Rare Hospitality International, Inc.	Vice President	Current
Rare Hospitality International, Inc.	Secretary	Current
EarthLink, Inc.	Vice President	Former
Spelman College	Graduate	Former
EarthLink, Inc.	Counsel	Former
Turner Broadcasting System, Inc.	Corporate Counsel Positions	Former
National Basketball Association	Corporate Counsel Positions	Former
Rare Hospitality International, Inc.	General Counsel	Former
Harvard Law School	Graduate	Former

Organization	Position	Status
Rare Hospitality International, Inc.		Current
The Capital Grille	President	Former
Johnson & Wales University	Bachelor's degree in Food Service Management	Former

Carolyn Hogan Byrd has served as a director since May 2001. Ms. Byrd founded GlobalTech Financial, LLC, a financial services and consulting company headquartered in Atlanta, Georgia, in May 2000 and currently serves as chairman and chief executive officer. From November 1997 to October 2000, Ms. Byrd served as president of The Coca-Cola Financial Corporation. From 1977 to 1997, Ms. Byrd served in a variety of domestic and international positions with The Coca-Cola Company. Ms. Byrd currently serves on the Board of Directors of Circuit City Stores, Inc.

Organization	Position	Status
AFC Enterprises, Inc.	Chairperson	Current
Freddie Mac	Board of Directors	Current
AFC Enterprises, Inc.	Board of Directors	Current
Circuit City Stores, Inc.	Board of Directors	Current
Rare Hospitality International, Inc.	Board of Directors	Current
Coca-Cola Financial Corporation	President	Former

Organization	Position	Status
National Restaurant Association Educational Foundation	President, J. Christopher's Restaurants	Current
J. Christopher's Restaurants Web Design	President	Current
AFC Enterprises, Inc.	Chief Operating Officer	Current
National Restaurant Association Educational Foundation	Board of Directors	Current
Industry Advisors, Inc.	Board of Directors	Current
Rare Hospitality International, Inc.	Director	Current
AFC Enterprises, Inc.	President	Former

Organization	Position	Status
A2B Corporate	Director	Current
Airline Bulletin	Director	Current
Dailyfinance	Director	Current
Rare Hospitality International, Inc.	Director	Current
Theairlinehub	Director	Current
Fly Pensacola	Director	Current
AirTran Airways Corp.	Committee Member	Current

Organization	Position	Status
Rare Hospitality International, Inc.	Board of Directors	Current

Organization	Position	Status
724 Solutions Inc.	President	Current
BroadVision, Inc.	Chairman	Current
724 Solutions Inc.	Board of Directors	Current
Upstream Technologies LLC	Director	Current
Rare Hospitality International, Inc.	Director	Current
C & S/Sovran Corporation	Chief Financial Officer	Former
BroadVision, Inc.	Director	Former
Florida State University	B.A.	Former

Organization	Position	Status
Theairlinehub	Director	Current
Rare Hospitality International, Inc.	Director	Current
Dailyfinance	Director	Current
Fly Pensacola	Director	Current
Airline Bulletin	Director	Current
AirTran Airways Corp.	Director	Current
A2B Corporate	Director	Current
Continental Airlines, Inc.	Director	Former

Organization	Position	Status
Rare Hospitality International, Inc.	Director	Current

Organization	Position	Status
Rare Hospitality International, Inc.	Director	Current

W. Douglas Benn was appointed Chief Financial Officer in January 2009. Mr. Benn is a veteran of the restaurant industry having spent more than 20 years in management roles with restaurant companies. He most recently served as Executive Vice President and Chief Financial Officer of RARE Hospitality International, which owned LongHorn Steakhouse and The Capital Grille prior to the company’s sale to Darden Restaurants in October 2007. During his ten years with RARE, Mr. Benn helped grow the company to over 300 units and over $1 billion in annual revenues.

Organization	Position	Status
The Cheesecake Factory Incorporated	Executive Vice President & Chief Financial Officer	Current
Rare Hospitality International, Inc.	Board of Directors	Current
Rare Hospitality International, Inc.	Executive Vice President, Finance & Chief Financial Officer	Former