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Red Lobster chain gets new owner
Restaurant chain Red Lobster is getting a new owner.
Darden restaurants announced that it's selling the chain to Golden Gate Capital for 2.1 billion dollars.
Golden Gate will have its work cut out for it.
Red Lobster's same-store sales in the US tumbled 8.8% during the first three months of 2014.
It's not clear if Golden Gate plans to close stores as part of the acquisition.