Bahama Breeze may be sold or rebranded following closure of 15 locations
Bahama Breeze is facing an uncertain future after closing 15 of its locations last month.
During a June 20 earnings call reviewing Darden Restaurants' fourth quarter and full-year financial results, President and CEO Ricardo Cardenas announced the company is exploring "strategic alternatives" for the Caribbean-inspired chain, including a potential sale or converting remaining restaurants to other Darden brands.
"We have made the difficult decision that these remaining locations and the Bahama Breeze brand are not a strategic priority for us," he explained. "We also believe that this brand and these restaurants have the potential to benefit from a new owner. Consequently, we will be considering strategic alternatives for Bahama Breeze, including a potential sale of the brand or converting restaurants to other Darden brands."
He continued, "Excluding any one-time potential impacts which are unknown as of today, we do not expect these strategic alternatives, including a potential sale, to have a material impact on our financial results."
A representative for Bahama Breeze confirmed the update to ABC News on Tuesday.
Cardenas also explained that Bahama Breeze no longer fits Darden's goals for its brands and could grow more with a new owner, since the company doesn't plan to invest in it anymore.
"We think that they have a lot of growth potential with another owner," he said. "We were not going to be putting a lot of investment into Bahama Breeze. And so to give those team members and those managers growth opportunities, it's better for them to be under a different ownership."
Known for its vibrant tropical drinks topped with sugar cane and island-inspired dishes such as coconut shrimp, jerk chicken, guava BBQ sauce and key lime pie, Bahama Breeze has been a staple of Caribbean-style dining since its debut in 1996 under Darden Restaurants, according to its website.
The brand's uncertain future follows the closure of the following 15 locations on Thursday, May 15:
- Daytona Beach, FL
- Gainesville, FL
- Naples, FL
- Oakland Park, FL
- Sunrise, FL
- Schaumburg, IL
- Tyngsboro, MA
- Troy, MI
- Las Vegas, NV
- Paramus, NJ
- Toms River, NJ
- Wayne, NJ
- Woodbridge, NJ
- Lake Grove, NY
- Memphis, TN
