| Type | Wholly owned subsidiary |
|---|---|
| Industry | Restaurants |
| Founded | 1989 |
| Headquarters | Orlando, Florida, U.S. |
| Parent | Darden Restaurants |
| Website | www.thecapitalgrille.com |
The Capital Grille is a national chain of upscale steakhouses; it currently has locations in twenty states and the District of Columbia.[1] It is owned by Darden Restaurants, based in Orlando, Florida, a multi-brand restaurant operator that owns other restaurant brands such as Olive Garden and Red Lobster.
The original Capital Grille was founded by Edward P. "Ned" Grace III in Providence, Rhode Island in 1989.[2] The opening was curious for several reasons: the upscale steakhouse contrasted with the then-rundown downtown Providence, and the opening occurred amidst an ongoing recession. Grace envisioned the restaurant being popular with business and political elite, and proved to be accurate: seven years after opening, the original location pulled in over $4 million in annual sales.[2]
Under Grace's Bugaboo Creek Steak House Inc., the chain expanded to several major markets; the corporate name came from Grace's other chain: Bugaboo Creek Steak House, a casual dining restaurant with a Canadian mountain lodge theme. By 1996 The Capital Grille had locations in Washington, D.C. and Boston; in 1997, aided by a $20 million credit line from two banks, it expanded with four more locations. Bugaboo Creek Steak House Inc. went public in 1994, and later changed its name to RARE Hospitality International, Inc.[2] The chain was acquired by Darden Restaurants as a part of its $1.19 billion acquisition of RARE Hospitality in 2007.[1]
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