What does 'BNC' refer to in the Benihana Franchise Disclosure Document?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
Benihana National Corp. (referred to in this Disclosure Document as "we," "us," "our," or "BNC") was formed as a Delaware corporation in December 1982. In this Disclosure Document, we refer to the person or entity that will be signing the Franchise Agreement (defined below) as "you" or "your," which, if you are a corporation, partnership, or other entity, includes all franchise owners, members, or partners ("Principals").
Our principal place of business is 1624 Market Street, Suite 311, Denver, Colorado 80202. We are a wholly-owned subsidiary of Benihana, Inc., a Delaware corporation formerly traded publicly on the NASDAQ exchange until August 2012, when the stock of Benihana, Inc. was acquired by Safflower Holdings Corp., a privately owned Delaware corporation. In May 2024, Safflower Holdings Corp. was acquired by TOG Kaizen Acquisition, LLC, a Delaware limited liability company and wholly-owned subsidiary of The ONE Group Hospitality, Inc., a Delaware corporation traded on NASDAQ, each with a principal business address at 1624 Market Street, Suite 311, Denver, Colorado 80202.
Source: Item 1 — THE FRANCHISOR, ITS PARENTS, PREDECESSORS, AND AFFILIATES (FDD pages 8–12)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, "BNC" refers to Benihana National Corp. The document specifies that Benihana National Corp. is also referred to as "we," "us," or "our" within the disclosure document. Benihana National Corp. was formed as a Delaware corporation in December 1982.
Benihana National Corp. is the entity offering the franchise opportunity. It is important for prospective franchisees to understand that when the document refers to "BNC," it is referring to the specific entity they will be contracting with for the franchise. This distinction is crucial for legal and business considerations.
Benihana National Corp. is a wholly-owned subsidiary of Benihana, Inc. which was acquired by Safflower Holdings Corp. in August 2012. In May 2024, Safflower Holdings Corp. was acquired by TOG Kaizen Acquisition, LLC, a wholly-owned subsidiary of The ONE Group Hospitality, Inc.