Golden Gate Completes CPK Buyout

According to Business Week, “Private equity firm Golden Gate Capital has completed its approximately $470 million acquisition of restaurant chain California Pizza Kitchen Inc., the companies announced Thursday.”

“California Pizza Kitchen, which started in 1985, serves pizzas, pastas, soups, sandwiches and other food items. The Los Angeles company began exploring selling its business in February and accepted the offer of $18.50 per share from a Golden Gate affiliate in May. There are 265 California Pizza Kitchen restaurants, including 60 that operate under franchise agreements and 205 operated by the company. The company also sells its premium pizzas at three venues in Southern California and makes and distributes frozen foods.”