M&A Deal Summary

The ONE Group Acquires Benihana

On May 1, 2024, The ONE Group acquired restaurant Benihana from Angelo Gordon s Private Equity Group for 365M USD

Acquisition Highlights
  • This is The ONE Group’s 1st transaction in the Restaurants sector.
  • This is The ONE Group’s largest (disclosed) transaction.
  • This is The ONE Group’s 1st transaction in the United States.
  • This is The ONE Group’s 1st transaction in Florida.

M&A Deal Summary

Date 2024-05-01
Target Benihana
Sector Restaurants
Buyer(s) The ONE Group
Sellers(s) Angelo Gordon s Private Equity Group
Deal Type Add-on Acquisition
Deal Value 365M USD
Advisor(s) Piper Sandler & Co. (Financial)
Sidley
Akin Gump Strauss Hauer & Feld (Legal)

Target

Benihana

Aventura, Florida, United States
Benihana is an operator of Japanese theme and sushi restaurants with 95 restaurants in the United States, including 62 Benihana restaurants, 25 RA Sushi restaurants, and 8 Haru sushi restaurants. Benihana was founded in 1964 and is based in Aventura, Florida.

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Buyer(S) 1

Buyer

The ONE Group

Denver, Colorado, United States

Category Company
Founded 2004
Sector Restaurants
Employees5,000
Revenue 333M USD (2023)
DESCRIPTION

The ONE Group is a global hospitality company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both nationally and internationally. The ONE Group was founded in 2004 and is based in Denver, Colorado.


DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Angelo Gordon s Private Equity Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Angelo, Gordon's Private Equity Group is the private equity arm of asset manager Angele, Gordon & Co. AG's private equity group focuses on acquiring assets from financially distressed sellers or from larger corporations. Prospective transactions include forced sales, management-led buyouts, private company recapitalizations, corporate carve-outs, asset pool purchases, and other complex situations. The Group prefers control when considering opportunities and generally looks to commit $25 to $125 million of capital in transactions valued up to $500 million. Broad sectors of interest include specialty finance, retail, consumer, healthcare services/facilities, real estate, and business services. Angelo, Gordon's Private Equity group is based in New York City.


DEAL STATS #
Overall 13 of 13
Sector (Restaurants) 2 of 2
Type (Add-on Acquisition) 7 of 7
State (Florida) 1 of 1
Country (United States) 12 of 12
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Firebirds Wood Fired Grill

Charlotte, North Carolina, United States

Firebirds International is a contemporary-polished casual restaurant with 48 locations throughout the U.S. Firebirds Wood Fired Grill offers guests a unique dining experience featuring an exposed kitchen with its signature wood-burning grill. Firebirds International was founded in 2000 and is based in Charlotte, North Carolina.

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