Darden Restaurants Inc., owner of the Olive Garden and Red Lobster chains, will buy the beer-centric Yard House USA Inc. restaurant chain for $585 million in cash.
The deal with Yard House owner TSG Consumer Partners will place the chain in Darden's Specialty Restaurant Group, a more upscale lineup of restaurants that includes the Capital Grille, Bahama Breeze, Seasons 52 and Eddie Vs.
Yard House, based in Irvine, has more than 130 taps on average and takes advantage of the popularity of craft beers.
Revenue at Yard House boomed 27% in the second quarter compared with a year earlier.
The chain, which was launched in 1996, now has 39 restaurants across 13 states. Yard House features a soundtrack of rock music and an energetic atmosphere.