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Farallon stake in CPK grows to 7.3%

LOS ANGELES Hedge fund Farallon Capital Management LLC has increased its stake in California Pizza Kitchen to 7.3 percent, or around 2.1 million shares.

Farallon and its funds bought the shares for about $8.6 million in aggregate at per-share prices that ranged from $15.01 to $15.51, according to a filing made Thursday with the Securities and Exchange Commission. The purchases were made between Dec. 4 and Dec. 20.

Earlier this month, Farallon had upped its stake in CPK to 5.3 percent, or 1.6 million shares. At the time, the fund said it had no plans to acquire a controlling interest in the L.A.-based restaurant company but that it might discuss operations with management or other shareholders.

CPK operates, franchises or licenses more than 220 restaurants under the California Pizza Kitchen, CPK/ASAP and L.A. Food Show brands.

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