Centerplate Agrees to Kohlberg Buyout

Centerplate, Inc. has agreed to a reduced merger price of $2.50 per share for the previously announced purchase of the Stamford, CT-based concessions company by the Kohlberg & Co. buyout firm. The initially agreed price of $4.00 had to be reduced due to weakness in the current credit markets. The transaction is expected to be completed in the first quarter of 2009, and is subject to the approval of Centerplate shareholders. The company provides concessions, catering and merchandise services in more than 130 sports facilities, convention centers and other entertainment venues throughout the United States and Canada.