Los Angeles-based restaurant chain California Pizza Kitchen was recently purchased by a private equity firm after months of struggling financially. The equity firm, Golden Gate Capital, acquired California Pizza Kitchen at a value of $470 million. Golden Gate also has investments in On the Border Mexican Grill & Cantina and Romano’s Macaroni Grill.
The restaurant industry was hit by the economic downturn and has experienced several mergers and acquisitions. California Pizza Kitchen’s acquisition was valued at $18.50 a share, a price almost 11 percent higher than recent closing share prices.
Golden Gate managing director Josh Olshansky said of the acquisition, “We have great respect for the California Pizza Kitchen brand. The business that the C.P.K. team has built, with its great product offerings, makes it an ideal fit with our long-term oriented approach to investing.”
Contact the Orange County mergers and acquisitions attorneys of Daily Aljian at 949-861-2524 today, if you or someone you know would like to meet with an experienced business litigation lawyer to discuss your situation.