DALLAS Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
The deal between Oak Hill and Wellspring, which has owned Dallas-based Dave & Buster's since 2006, is expected to close in the second quarter of 2010.Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Dave & Buster's is the latest restaurant chain to be sold this year, following buyout announcements from CKE Restaurants Inc., Papa Murphy's International Inc., Wingstop Restaurants Inc. and On the Border. In addition, California Pizza Kitchen said last month it was exploring strategic alternatives, a move analysts said could result in a sale. Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Oak Hill said it would work with Dave & Buster's current management team, including chief executive Steve King, as it expands the chain. Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
"We are very excited to partner with Oak Hill Capital given its extensive experience investing in consumer, retail and restaurant companies, as well as its long history of working successfully with management teams," King said. "We believe Oak Hill Capital will be a value-added partner that will help Dave & Buster's execute against its strategy of continuing to build its brand and expand its store base."Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Tyler Wolfram, a partner at Oak Hill, said Dave & Buster's is differentiated from other casual-dining chains by its arcade games and other entertainment aspects.Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
"We believe there is a tremendous opportunity to grow the Dave & Buster's store base given its differentiated format, the strength of its brand and the meaningful number of untapped markets across North America and beyond," he said.Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Oak Hill at one time owned Caribbean Restaurants Inc., a Burger King franchisee based in Puerto Rico.Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Dave & Buster's reported $520.8 million in fiscal 2009 revenue, down 2.4 percent from 2008. Same-stores sales declined 7.8 percent in 2009.Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring acquired Dave & Buster's for $375 million in a going-private deal in 2006 and first put it up for sale in 2008, reportedly seeking as much as $600 million for the chain, which then had 49 locations.Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Contact Molly Gise at [email protected].Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
Wellspring Capital Management LLC, the private-equity parent of Dave & Buster's Inc., is selling the 56-unit casual-dining chain to Oak Hill Capital Partners for $570 million, the companies said Monday.
