The ONE Group Hospitality Inc (STKS) has provided an update.
The ONE Group Hospitality, Inc. has inked a deal to acquire all equity interests of Safflower Holdings Corp., the entity behind most Benihana and all RA Sushi eateries in the US, for $365 million, with adjustments for financials and expenses. This acquisition, which includes both owned and franchised locations in the US and abroad, awaits regulatory approval and has no financing contingency. Additionally, the company has arranged for a significant investment, including preferred shares and warrants, alongside a commitment from lenders for a $390 million credit facility to finance the deal and refinance existing debt, underscoring its strategic growth objective in the hospitality sector.
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