Report: Starwood Capital pays $150m for B.R. Guest

Nation's Restaurant News,  March 12, 2007  

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New York -- In deals valued at $150 million, private-equity firm Starwood Capital Group has purchased 16 high-end restaurants from Stephen Hanson and is reincorporating his management company here, B.R. Guest, as a new entity called B.R. Guest LLC, the New York Post reported.

The deal would include such high-profile operations as Blue Water Grill, Atlantic Grill, Dos Caminos and Ruby Foo's. The restaurants, in which Hanson held a 72-percent stake, were owned separately from New York-based B.R. Guest. The deal reportedly would allow Hanson to buy out his minority partners in the restaurants and continue to run them on a daily basis.

Hanson would get a 50-percent stake in the new venture, the Post indicated. It said he also would develop new restaurants for Starwood's high-end hotel properties, including the "1" hotels.

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