Interior of Katsuya in Hollywood

Interior of Katsuya in Hollywood

SBE to sell Katsuya, Cleo

The ONE Group plans to expand high-end concepts

The parent of the STK steakhouse chain has agreed to acquire the Katsuya and Cleo restaurant brands from SBEEG Holdings LLC, or SBE, for about $75 million and 200,000 warrants at $5 per share, company officials said Thursday.

The ONE Group Hospitality Inc., based in New York, said it plans to grow both brands as standalone concepts, but also as part of its growing hotel foodservice portfolio.

As part of the deal, The ONE Group will also have a strategic relationship to

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