NEW YORK ( TheStreet) -- California Pizza Kitchen ( CPKI) has agreed to sell itself to private-equity firm Golden Gate Capital for about $470 million, The Wall Street Journal reported. The deal values California Pizza Kitchen at $18.50 a share. The stock was rising 1.1% in premarket trading Wednesday to $16.89. The offer price is a premium of about 11% to California Pizza's closing price of $16.71 on Tuesday. The pizza chain last spring hired an investment bank to explore a potential sale. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.