Benihana Inc. Sold For Nearly $300 Million

MIAMI (CBSMiami) – South Florida-based Benihana Inc. has been sold to a private equity group for just less than $296 million in cash, according to Bloomberg News.

Once the deal is completed, the private equity firm, Angelo, Gordon and Company, will take the restaurant chain private. Benihana currently operates 95 Japanese-themed restaurants across the United States, according to Bloomberg.

Benihana, which also owns the RA Sushi and Haru restaurant chains, had previously looked for a buying partner. It's the second time in two years that Benihana actively sought out buyers.

According to Bloomberg News, the deal will pay stockholders $16.30 per share, which is approximately 23 percent higher than Benihana's closing price on Monday.

Bloomberg reported that Benihana made $1.34 million in net income last year after enduring a net loss of $8.9 million the year before.