Dave & Buster's, the adult entertainment and restaurant concept which floundered in the UK, but generated revenues of $358m for the group last year, is to be taken private.

D&B Acquisition Sub, a group led by founders Dave Corriveau and Buster Corley, senior management members and Investcorp, a global investment group, has launched a cash offer for all outstanding shares of the company for $12 per share. The deal is valued at $255m.