Darden Restaurants has concluded the acquisition of Ruth's Hospitality Group in a deal valued at $715m.

The deal was executed through Darden’s indirect wholly owned subsidiary Ruby Acquisition Corporation.

Darden's agreed to purchase the issued and outstanding shares of Ruth's common stock for $21.50 per share.

With the completion of the deal, Ruth's became an indirect, wholly-owned subsidiary of Darden.

As a result of this merger, Ruth's common stock ceased trading on Nasdaq.

Ruth's Chris Steak House brand also joins Darden's portfolio, which includes brands such as Olive Garden, LongHorn Steakhouse, Yard House and Bahama Breeze.

Ruth's Chris Steak House offers an array of menu items such as USDA Prime steaks, New Orleans-inspired sides and wines.

Ruth's Chris Steak House currently operates 155 locations worldwide, including 81 company-owned or company-operated restaurants and 74 franchised restaurants.

Last month, Darden Restaurants signed a definitive merger agreement to purchase all of Ruth’s outstanding shares.

At the time of signing the deal, Ruth’s chairperson, president and CEO Cheryl Henry said: “We are excited about the opportunity to join the Darden family. Our strategy and operating philosophy align well with Darden and we have a strong cultural fit that should ensure a smooth transition.

“This transaction will also provide more opportunities for our team members to develop in their careers as we continue to grow our 57-year-old iconic brand.”