Benihana Going Private in Buyout Deal

Keep New Times Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Miami and help keep the future of New Times free.

Benihana, the Miami-based interactive dining chain, is being acquired by private equity group Angelo, Gordon, and Co.'s., in a deal that will take the publicly-traded restaurant company private.

According to NASDAQ.com, Angelo, Gordon, and Co.'s will pay $16.30 per share in cash, approximately $296 million, to complete the transaction. Benihana stock is currently traded on the NASDAQ exchange, and closed at $16.13 per share yesterday.

The deal is still subject to regulatory and shareholder approvals and Benihana has until July 1 to consider any other third-party offers, but analysts state that a deal is imminent. Benihana has been considering buyers since 2010.

In 1964, Rocky Aioki opened the first Benihana of Tokyo in New York

City. The restaurant, which featured teppan-yaki cooking by chefs

trained in dazzling knife skills, struggled for the first six months

until a positive review by the New York Herald-Tribune made it popular.

Benihana has over 50 locations in the United States, Latin America, and

the Caribbean, with three Miami-area restaurants. Benihana also owns the

RA Sushi and Haru restaurant chains. Kevin Aioki, the eldest son of Benihana's founder, owns the popular Doraku Sushi chain. Benihana sold Doraku to Kevin in 2006.

Follow Short Order on Facebook and Twitter @Short_Order.

Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the New Times community and help support independent local journalism in Miami.


Join the New Times community and help support independent local journalism in Miami.