California Pizza Kitchen Seeks Buyers
NEW YORK (TheStreet) -- California Pizza Kitchen (CPKI) is reportedly looking for someone to buy its restaurant chain as private-equity groups begin to show interest in pursuing casual dining businesses amid an improving financing environment and greater interest among consumers to eat out, a report says.
California Pizza Kitchen is currently worth above $500 million, according to
Reuters.
The stock is up 3.7% at $21.50 in premarket trading Monday.
Meanwhile, competitor
CKE Restaurants
(CKR)
is
TheStreet Recommends
to Thomas H. Lee Partners' $619 million bid to buy the company. CKE shares ended Friday's trading session at $12.10, up 0.9%.
-- Reported by Andrea Tse in New York
RELATED STORIES:
>> CKE Gets Alternative Takeover Offer
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