NEW YORK, Aug. 29 /PRNewswire/ -- Nick Valenti, CEO and Joachim
Splichal, Chef and Founder, of the Patina Restaurant Group, have joined
with Bunker Hill Capital, L.P. to acquire The Smith & Wollensky Restaurant
Group, Inc. (Nasdaq: SWRG). An acquisition vehicle formed by the group
entered into a definitive agreement to acquire SWRG via an all-cash merger
priced at $11.00 per share. Shareholders approved the deal and the
transaction closed effective August 28.
"This has been a monumental year of growth, and this acquisition is
consistent with the positioning of the rest of our business," stated
Valenti and Splichal. "Smith and Wollensky is a powerhouse brand with a
premium image and track record of excellence. We are also looking forward
to working with our partner, Bunker Hill Capital, to achieve our strategic
plans for growing this brand."
According to Theresa Nibi, a Managing Partner at Bunker Hill Capital,
"We look forward to our partnership with Nick and Joachim, who have a long
and successful track record of managing and growing restaurant concepts.
Smith & Wollensky is one of the most widely recognized and highly regarded
restaurant brands in the United States, and we are excited to expand the
concept by opening new locations across the country." Valenti and the
principals of Bunker Hill Capital have had a relationship dating back to
1996, and Valenti is a member of Bunker Hill Capital's Executive Council.
About Patina Restaurant Group
The Patina Restaurant Group (www.patinagroup.com) is the nation's
leading multi-concept operator in the premium segments of the restaurant
and food service industry. In New York City its portfolio includes the
world-famous Ice Rink and The Sea Grill at Rockefeller Center; the
Brasserie; and the Grand Tier at the Metropolitan Opera House. On the West
Coast the portfolio includes the renowned Patina Restaurant in Walt Disney
Concert Hall; Nick & Stef's Steakhouse; Catal and three other restaurants
in the Anaheim Disneyland Resorts Downtown Disney District(R); Leatherby's
Cafe Rouge at the Orange County Performing Arts Center; Julia's Kitchen at
COPIA in Napa; Pinot Brasserie in Las Vegas; and catering and food service
in museums and cultural centers throughout Southern California.
Press contact: Tanja Yokum
5W Public Relations
SOURCE Patina Restaurant Group