Angelo, Gordon Closes Benihana Buy

Angelo, Gordon & Co. has completed its roughly $295 million buy of Benihana. Earlier Tuesday, Benihana’s public stockholder approved the sale. The sale of Benihana was announced in May. PRESS RELEASE Benihana Inc. (previously traded as NASDAQ: BNHN) (“Benihana” or the “Company”), operator of the nation’s largest chain of Japanese theme and sushi restaurants, today […]

126 Views

Benihana Goes Up for Sale, Middle Market PE Likely Interested

We now have the next public restaurant deal.

Benihana, which just settled a proxy fight, has hired Jefferies & Co. to sell the company. But don’t expect any big PE firms, like KKR or Apollo Management, to be interested.

This is a smaller play geared more to middle-market buyout shops. Miami-based Benihana is pretty small. In August, the company reported that first quarter revenue increased by 5% to $100.8 million for the time period ended July 18. Income from operations stood at $2.5 million while net income was $1.3 million for the time period. The company’s market cap is currently $108.2 million.

New Details on Benihana Buyout Bid

(Reuters) – Japanese-style restaurant chain Benihana Inc (BNHN.O) (BNHNA.O) got a takeover offer from RDG Capital that values the company at around $150 million including debt, a source familiar with the situation said. The offer of $7 a share values the Miami, Florida-based company at more than $100 million. Including debt and preferred shares, that […]

RDG Capital Offers to Buy Benihana

(Reuters) – Russell Glass, founder and head of New York investment firm RDG Capital, has offered to buy the Japanese-themed restaurant Benihana Inc (BNHN.O) for $7 a share, the NY Post said, citing a person familiar with the matter. Benihana shares closed on Monday at $5.88. The deal values the company at $20.1 million, the […]

PEHUB Community

Join the 12500 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget