Elon Musk: Always A Douche

[Admiral Yi]

It means that they thought that the value of Red Lobster + the value of their exclusive supply contracts was positive.  The former could be negative if the latter was positive enough.

It's hard to say further without knowing how much Thai Union paid for the 51% stake in 2020.

Since we know that Golden Gate paid 2.1 billion and cashed the land for 1.5 and financed the deal with somewhere in the neighborhood of 300 million, if Thai Union paid less 300 million, Golden Gate lost money on the deal.

[The Minsky Moment]

It means that they thought that the value of Red Lobster + the value of their exclusive supply contracts was positive.  The former could be negative if the latter was positive enough.

It's hard to say further without knowing how much Thai Union paid for the 51% stake in 2020.

Since we know that Golden Gate paid 2.1 billion and cashed the land for 1.5 and financed the deal with somewhere in the neighborhood of 300 million, if Thai Union paid less 300 million, Golden Gate lost money on the deal.

Thai Union paid 575M in 2016 for 49%.  https://www.thaiunion.com/en/newsroom/press-release/375/thai-union-to-make-strategic-investment-in-red-lobster-the-worlds-largest-seafood-restaurant

They bought the rest in the 2020 deal.  So GG definitely profited on the deal, and likely had made back the investment in full by 2016.

[Admiral Yi]

WSJ story on Red Lobster.