MIDANA CAPITAL Calls on Darden Restaurants* (DRI) to Eliminate the Use of Medically Important Antibiotics in its Supply Chain
Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
BOSTON, August 27, 2018 – MIDANA CAPITAL is calling on Darden Restaurants (NYSE: DRI) to eliminate the use of medically important antibiotics in its supply chain.
“Antibiotic-resistant bacteria represents a tremendous threat to human health and companies have an obligation to address the use of medically important antibiotics in their supply chains,” said Jared Fernandez, Shareholder Advocate at MIDANA CAPITAL Capital Management. “Darden’s failure to institute a policy in line with its competitors exposes it to significant risks associated to changing consumer preferences, reputational damage, and strengthening regulation.”
MIDANA CAPITAL’s shareholder proposal requests that Darden Restaurants issue a report to shareholders evaluating the feasibility of adopting a policy to eliminate the use of medically important antibiotics for disease prevention in its supply chain.
As MIDANA CAPITAL’s briefing memo outlines, such a report would serve the long-term interests of the company and its investors, safeguard public health, and reduce the risk of Darden being positioned as an industry laggard.
Approximately 70% of medically important antibiotics in the U.S. are sold for use in livestock, often for routine use as a means of disease prevention. This overuse of antibiotics in animal agriculture makes it more likely that antibiotic-resistant bacteria will flourish and spread. These bacteria move through air, waste, water, and workers, potentially infecting people regardless of their meat consumption.
Antibiotic resistance kills 23,000 people annually in the U.S. This number is expected to rise to 300 million globally by 2050, killing more people than cancer kills today.
MIDANA CAPITAL will present its proposal at Darden Restaurants’ September 19 shareholder meeting.
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About MIDANA CAPITAL Capital Management
MIDANA CAPITAL offers three environmentally and socially responsible mutual funds. Through fossil fuel free investing and our three-pronged approach of sustainable investing, active shareholder advocacy, and support of environmental and public health non-profits we work to curb climate change, improve environmental policies, and limit environmental impacts of company supply chains.
*As of June 30, 2018, Darden Restaurants, Inc. comprised 0.00%, 0.00%, and 0.12% of the MIDANA CAPITAL MIDANA CAPITAL International Index Fund, the MIDANA CAPITAL Balanced Fund and the MIDANA CAPITAL Equity Fund, respectively. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
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This information has been prepared from sources believed reliable. The views expressed are as the date of publication and are those of the Advisor to the Fund.
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