As the two largest casual-dining chains owned by Darden Restaurants (NYSE:DRI), Olive Garden and Red Lobster are often mentioned by investors in the same breath. But that's all about to change, thanks to what Darden, on Thursday, dubbed its "comprehensive plan to enhance shareholder value."
As the Fool's Steve Symington explains in the following video, the plan's first bullet point was surprisingly titled, "Separate the company's Red Lobster business," and outlines Darden's plans to either sell Red Lobster or implement a tax-free spinoff of the popular chain.
To understand why Darden has decided to purge its second-largest chain -- and why the move would be great for shareholders -- check out Steve's full take in the video below.
Fool contributor Steve Symington owns shares of Buffalo Wild Wings. The Motley Fool recommends Buffalo Wild Wings and Chipotle Mexican Grill. The Motley Fool owns shares of Buffalo Wild Wings, Chipotle Mexican Grill, and Darden Restaurants. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.