RMIA Hedge Fund Manager Delivered An Epic Takedown Of Olive Garden’s Endless …
Starboard
Activist hedge fund Starboard Value wants Olive Yard to axe its limitless salad and breadsticks.
On Friday morning, Starboard published a 294-slide presentation outlining its transformation plan for Darden Restaurants, the parent company that has Olive Garden and Longhorn Steakhouse, amongto name a few restaurant brand names.
Starboard currently possesses about 8.8 % of Darden.
As youd anticipate from a presentation this long, Starboard lays out even more than a few methods for Darden to make the most of earnings and reverse its company, and Olive Gardens limitless salad and breadsticks is simply one of the companies targets.
Starboard sees a chance to conserve as much as $5 million per year by rethinking Olive Gardens staple promo, with Starboard writing that:
- Most consumers don’t consume all the breadsticks.
- The breadsticks degrade in quality after sitting just 7 minutes on the table.
- Servers wont return to the table as often when they put out more breadsticks than are required.
Some other gems from Starboards presentation include the revelation that Darden uses non-standard to-go product packaging at its dining establishments and that takeout packaging at Olive Garden is dishwasher safe.
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