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WICHITA, KS-A group controlled by private equity firms New Castle Partners and Steel Partners II have lowered their bid for Fox & Hound Restaurant Group from $14.75 per share to $14.50 per share, or about $145.4 million. F&H Acquisition Corp. lowered it offer for the 82-unit chain from its original bid earlier this month after unrevealed revelations during due diligence, executives say.

Fox & Hound shares closed at just over $13.80 yesterday after opening around $14.40. Newcastle Partners claims to already own 836,049 shares of Fox & Hound.

Dallas-based Newcastle is currently in a $1.20-per-share bid to buy the 389-store Whitehall Jewellers. Steel Partners II, of New York City, counts among its investments a portion of investment firm BKF Capital Group.

Fox & Hound, which operates restaurants under the Fox and Hound English Pub and Bailey’s Sports Grille names, opened two new units in its Q3. For the rest of the fiscal year, executives are planning two to three new restaurants and an additional 10 to 11 in its next fiscal year.

The average Fox and Hound or Bailey’s unit is 9,600 sf. A majority of the company’s restaurants are in the Midwest and Southeast.

Fox & Hound ended its Q3 on Sept. 7 and posted a 0.5% year-over-year same-store sales gain. Total revenues jumped 16.8%, to $36.7 million, while the company earned $156,000 during the quarter.

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