Canada’s Onex, Cineplex team in lead to buy Dave & Buster’s – WSJ

(Reuters) – Canadian private equity firm Onex Corp and entertainment company Cineplex Inc have together emerged as the leading contender to buy restaurant and arcade chain Dave & Buster’s Inc, the Wall Street Journal reported, citing people familiar with the matter.

The companies recently offered more than $1 billion for the chain and discussions are ongoing, the report said.

Dave & Buster’s, the Dallas-based operator of restaurants with games for grown-ups, which scrapped plans to go public in October 2012, has been working with Goldman Sachs Group Inc and Jefferies on the potential sale or initial public offering that could value the company at more than $1 billion, according to a Reuters exclusive in December last year.

Dave & Buster’s, Onex and Cineplex were not immediately available for comment outside regular U.S. business hours.

Private equity firm Oak Hill acquired Dave & Buster’s for $570 million in May 2010.