Golden Gate to pay $470 million to buy California Pizza Kitchen

Private-equity firm Golden Gate Capital said Wednesday it will acquire 265-unit California Pizza Kitchen and take the company private in a deal valued at $470 million. Los Angeles-based CPK began the search for a buyer more than a year ago. Restaurant chains are increasingly becoming attractive buyout targets for private investors, and the Arby's, Long John Silver's and A&W brands also have been put on the block by their parent companies this year.

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