California Pizza Kitchen agreed to be sold to Golden Gate Capital for about $470 million, according to May 25 reports.
The deal valued California Pizza Kitchen at $18.50, a premium of nearly 11% compared with the California Pizza's closing price of $16.71 the day before news of the deal was reported. California Pizza Kitchen, a casual-dining restaurant chain, operates around 250 stores in 32 states and a few foreign countries. The pizza chain last spring hired an investment bank to explore a potential sale.
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