PHOENIX, AZ. (Oct. 12, 2011) – Guy Villavaso and Larry Foles, co-founders of Eddie V’s Restaurants, Inc. today announced that they have agreed to a sale of their Eddie V’s Prime Seafood and Wildfish Seafood Grille restaurants to Darden Restaurants, Inc. (NYSE: DR).  The sale will include all eight Eddie V’s and all three Wildfish restaurants.  The two brands will join Darden’s Specialty Restaurant Group with the transaction expected to close by the end of the year.

“This is an opportunity we could not pass up,” said Foles.  “In a highly competitive industry, we found that one of the most successful restaurant companies in the world wanted to grow Eddie V’s and Wildfish restaurants to their fullest potential.”
 
“It is really a culmination of a dream since opening our first Eddie V’s in 2000,” said Villavaso.  “We have always believed that through a commitment to excellence in our staff and the guest experience, we could create the finest seafood restaurant.  Darden agreed and this partnership will take it to the next level.”

Current Eddie V’s President Jim VanDercook and Executive Chef/Partner John Carver will lead day-to-day operations under the new agreement along with individual restaurant managers and chefs from the Eddie V’s and Wildfish restaurants.  Foles and Villavaso will serve as consultants over the next two years to ensure a smooth transition of the culture and high standards that have made the restaurants what they are today. 

With the continuity of leadership at the operations level as well as the continued involvement of the founders, the guest experience at each of the restaurants will retain the same commitment to quality.

“The qualities most important to the brands – the uniqueness of the restaurants and the consistent excellence of our employees and our dining experience will not change,” said Villavaso.

Eddie V’s will join Darden’s Specialty Restaurant Group headed by Gene Lee, which includes The Capital Grille, Bahama Breeze and Seasons 52.

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