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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2014-09-11 00:00:00",
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      "text": "In addition to substantial value creation from our operational improvement plan, we believe a real estate separation and a spinoff of SRG would both create value",
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      "text": "Darden has an extremely valuable real estate portfolio. Even after the sale of Red Lobster, Darden still has the largest real estate portfolio in the casual dining industry. We believe remaining real estate is worth $2.5 to $3 billion. A separation could create ~$1 billion in value.",
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      "text": "We believe a spinoff of the Specialty Restaurant Group (SRG) would create value for Darden shareholders. SRG includes fast-growing concepts that are difficult for investors to value inside Darden. SRG brands are higher end niche brands.",
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