Benihana Inc. Acquires Franchised Unit in Broomfield, Colorado for $2.8 Million.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. , Fla. -- Benihana Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BNHNA; BNHN), operator of the nation's largest chain of Japanese theme and sushi restaurants, today announced that on September 26, 2006, the Company acquired a franchised Benihana teppanyaki restaurant located at 515 Zang Street in Broomfield, Colorado, a suburb of Denver. The total purchase price was $2.8 million. The acquisition will be immediately accretive to diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of . The Company already owns and operates a Benihana teppanyaki restaurant in nearby Denver, Colorado. Joel A. Schwartz, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Benihana, Inc., "We are pleased to have closed on this accretive acquisition Accretive Acquisition An acquisition that will increase the acquiring company's EPS. Notes: As they are expected to increase the acquiring company's future earnings, these acquisitions tend to be favorable for the company's market price. . While we remain focused on developing our Benihana teppanyaki brand as a whole, we are not actively seeking out acquisitions of existing franchised restaurants, yet we will remain opportunistic in such transactions to enhance our long term growth potential for shareholders." About Benihana Benihana Inc. (NASDAQ: BNHNA; BNHN) operates 76 restaurants nationwide, including 58 Benihana teppanyaki restaurants, seven Haru sushi restaurants, and eleven RA Sushi Bar restaurants. Under development at present are ten restaurants - three Benihana teppanyaki restaurants, one Haru restaurant, and six RA Sushi restaurants. In addition, 17 franchised Benihana teppanyaki restaurants are operating in the U.S., Latin America and the Caribbean. |
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