The ONE Group Hospitality, an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges, agreed to acquire Benihana, an restaurant company offering Japanese cuisine, for $365m. “We are delighted to welcome Benihana, an American cultural icon with timeless appeal that transcends generations and offers unparalleled guest experiences, to The ONE Group family. The strategic acquisition of a one-of-a-kind restaurant platform with a compelling financial profile supports our broader strategy to fortify and diversify our leading portfolio of best-in-class experiential VIBE restaurant concepts. With Benihana joining The ONE Group’s platform, our combined annualized EBITDA enhances our ability to continue to fully fund our expansion while delivering meaningful free cash flow enabling debt reduction and shareholder friendly capital allocation to drive long-term value for shareholders,” Emanuel Hilario, The ONE Group President and CEO.