ONE Group Acquires Benihana for $365M

Benihana and RA Sushi join a portfolio that also includes STK and Kona Grill.

Benihana
Photo by jetcityimage - stock.adobe.com.

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.

RELATED CONTENT

MoBettahs

Hawaiian Fast-Casual Nets New Owners

With 56 units across seven states and positive same-store sales growth, Mo’ Bettahs is primed to begin its next chapter.

Chuy's fine Tex Mex storefront exterior in Houston, TX. Mexican restaurant chain founded in 1982.

Darden Finalizes Chuy’s Acquisition

The full-service, Tex-Mex concept joins a portfolio of brands that also includes Olive Garden, LongHorn Steakhouse and Cheddar's Scratch Kitchen.

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

- Advertisement -

- Advertisement -

- Advertisement -