Benihana mulls possible sale, other options
March 14, 2012
by Meat&Poultry Staff
MIAMI – Benihana, the largest chain of Japanese theme and sushi restaurants in the US, announced the company's board of directors is exploring options to boost shareholder value, including a possible sale.
"The board of directors is enthused about the company's strong track record of financial and operational performance, and the strides we have made over the past year," said Richard Stockinger, chairman, president and chief executive officer. "While the board remains focused on the company's future and the goal of continuing the momentum in our business, it also believes that it is in the best interests of shareholders for the board to consider strategic alternatives at this time."
Jefferies & Co. Inc. will serve as the company's financial advisor in connection with a possible sale of Benihana.