ONE Group Acquires Benihana for $365M

The ONE Group Hospitality shared March 26 it will acquire Safflower Holdings Corp., the owner of Benihana Inc., which operates more than 100 restaurants through its Japanese teppanyaki brand Benihana and RA Sushi. The transaction is valued at $365 million and will close by the end of 2Q of this year.

ONE Group, an international restaurant company based in Denver, has a portfolio that includes modern American steakhouse STK; casual, bar-centric grill concept Kona Grill; and F&B hospitality services business ONE Hospitality. Acquiring Benihana will leave the group with a global footprint of 168 venues.

“We are delighted to welcome Benihana, an American cultural icon with timeless appeal that transcends generations and offers unparalleled guest experiences, to The ONE Group family,” says Emanuel “Manny” Hilario, president and CEO of ONE Group, in a release. Hilario adds that the acquisition of the “one-of-a-kind restaurant platform with a compelling financial profile” supports the company’s broader strategy to fortify and diversify its portfolio.