MANHATTAN BEACH, Calif.–California Pizza Kitchen Inc. and Golden Gate Capital today announced the completion of the previously announced acquisition of the Los Angeles-based restaurant chain for $18.50 per share in cash, or about $470 million.
On May 24, the companies announced that CPK and some affiliates of Golden Gate Capital Opportunity Fund had signed a merger agreement.
California Pizza Kitchen was founded in 1985. Of the chain’s 265 restaurants, 205 are company-owned and 60 operate under franchise or license agreements.
Golden Gate Capital is a San Francisco-based private investment firm with about $9 billion of capital. In addition to CPK, its investments include On the Border Mexican Grill, Romano’s Macaroni Grill, Eddie Bauer, Express, J. Jill and Zales.