Private equity firm to acquire Dave & Buster's
May 3, 2010
by Eric Schroeder
DALLAS — Private equity firm Oak Hill Capital Partners has entered a definitive agreement to acquire Dave & Buster’s from Wellspring Capital Management, L.L.C. for approximately $570 million. Founded in 1982, Dave & Buster’s owns and operates 56 restaurant/entertainment venues in 24 states and Canada.
“We are very excited to partner with Oak Hill Capital given its extensive experience investing in consumer, retail and restaurant companies, as well as its long history of working successfully with management teams,” said Steve King, chief executive officer of Dave & Buster’s. “We believe Oak Hill Capital will be a value-added partner that will help Dave & Buster’s execute against its strategy of continuing to build its brand and expand its store base.”
Dave & Buster’s menu includes appetizers, soups, salads, shrimp, chicken, pasta, steaks, ribs, burgers, sandwiches and desserts. The restaurant offers several “Eat & Play” combos that pair entrees with $10 game cards for $15.99, $17.99 or $19.99.