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Oak Hill Capital expects to expand restaurant-entertainment concept
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The Dave & Buster's Inc. chain of high-volume restaurant/entertainment venues could be on the grow again, after its acquisition by Oak Hill Capital Partners. Oak Hill, a private equity fund, is teaming with Dave & Buster's current management team to buy the business from Wellspring Capital Management LLC for $570 million.
“Dave & Buster's is a category defining concept that offers its customers a unique interactive entertainment and dining experience in a lively setting,” said Tyler Wolfram, a Partner at Oak Hill Capital. “We believe there is a tremendous opportunity to grow the Dave & Buster's store base given its differentiated format, the strength of its brand and the meaningful number of untapped markets across North America and beyond.”
The deal is expected to close within the next few weeks. Dave & Buster's currently operates 56 locales in 24 U.S. states and Canada.
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