The Capital Grille
Encyclopedia
The Capital Grille is a national chain
of upscale steakhouse
s; it currently has locations in twenty states and the District of Columbia. 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. 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.
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. The chain was acquired by Darden Restaurants as a part of its $1.19 billion acquisition of RARE Hospitality in 2007.
Chain store
Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses...
of upscale steakhouse
Steakhouse
A steakhouse is a restaurant that specializes in beef steaks. The same type of restaurant is also known as a chophouse.The steakhouse started in the USA in the late 19th century as a development of traditional inns and bars....
s; it currently has locations in twenty states and the District of Columbia. It is owned by Darden Restaurants
Darden Restaurants
Darden Restaurants, Inc. is a multi-brand restaurant operator headquartered in an unincorporated area in Orange County, Florida, near Orlando. The firm owns several casual dining restaurant chains, most notably Olive Garden, LongHorn Steakhouse, and Red Lobster...
, based in Orlando, Florida
Orlando, Florida
Orlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
, a multi-brand restaurant operator that owns other restaurant brands such as Olive Garden
Olive Garden
Olive Garden is an American restaurant chain specializing in Italian-American cuisine. It is a subsidiary of Darden Restaurants, Inc., which is headquartered in an unincorporated area in Orange County, Florida, near Orlando. Olive Garden operates more than 730 locations globally.- History :The...
and Red Lobster
Red Lobster
Red Lobster is a U.S. chain of seafood restaurants. It also operates in Canada, the UAE and Japan . It is aimed at the mid-level "casual dining" segment of the market...
.
The original Capital Grille was founded by Edward P. "Ned" Grace III in Providence, Rhode Island
Providence, Rhode Island
Providence is the capital and most populous city of Rhode Island and was one of the first cities established in the United States. Located in Providence County, it is the third largest city in the New England region...
in 1989. 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.
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. The chain was acquired by Darden Restaurants as a part of its $1.19 billion acquisition of RARE Hospitality in 2007.