A Year Later, Red Lobster Feels its Independence
SEAFOODNEWS.COM [Orlando Sentinel] By Kyle Arnold - July 22, 2015
When Red Lobster's menu team flew to a seafood show in Boston this spring, fishermen were talking about big catches of sockeye salmon and bairdi crab coming from Alaska.
This week, Red Lobster rolled out its Crabfest menu featuring salmon and crab, which company leaders say shows how far the Orlando-based seafood chain has come in the year since it was sold by Darden Restaurants.
"In the past we just weren't able to make the decisions fast enough to make a deal and then get it on our menus," said CEO Kim Lopdrup. "But now that we are independent, we are more nimble and can act faster."
Orlando-based Darden sold Red Lobster a year ago to private-equity firm Golden Gate Capital. The $2.1 billion deal involved Darden's oldest brand, but one that was suffering from sinking sales.
Red Lobster management took the separation seriously, calling it "Independence Day," having staff at each restaurant pose for a team photo...
To Read Full Story Login Below.