Onex and Cineplex emerge lead contenders to buy restaurant chain Dave & Buster's
15 Apr 2014
A consortium comprising Canadian private equity firm Onex Corp and entertainment company Cineplex Inc have emerged in the lead to buy US restaurant and arcade chain Dave & Buster's Inc, The Wall Street Journal yesterday reported, citing people familiar with the matter.
The consortium has tabled an offer of more than $1 billion and discussions are ongoing, the report said.
Private equity firm Oak Hill Capital Partners, which owns Dave & Buster's, had acquired the chain in 2010 for $570 million, and had scrapped plans to float the company last year with a valuation of more than $1 billion.
Dallas, Texas-based Dave & Buster's is a restaurant and entertainment chain with 61 locations across the US and one in Canada.
Dave & Buster's offers a full menu of food and beverage items combined with an extensive assortment of entertainment attractions, including both classic and state-of-the-art video games, interactive simulators and other games of skill.
