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BUSINESS BRIEFING / RESTAURANTS

Equity firm buys Bennigan's

October 23, 2008|times wire reports

The Bennigan's and Steak & Ale restaurant chains, whose parent company filed for Chapter 7 bankruptcy protection in the summer, have a new owner.

Atalaya Capital Management, a private equity firm, said that it was buying the brands, their trademarks and equity for an undisclosed price. The acquired assets include Bennigan's Franchising Co., which was formed by franchisees after the company's bankruptcy filing.

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