Nick Valenti and Joachim Splichal of Patina Restaurant Group Acquire Smith & Wollensky

Partner with Bunker Hill Capital

Aug 29, 2007, 01:00 ET from Patina Restaurant Group

    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 ( 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
                    (212) 584-4392

SOURCE Patina Restaurant Group