Zagats Hired Goldman To Explore Possible Sale

03/28/2008 02:45 am ET | Updated May 25, 2011
  • Andrew Edwards Wall Street Journal

Zagat Survey LLC, the influential pocket-sized burgundy guide that uses costumer reviews to rate everything from Chinese food restaurants to day spas, said it is exploring a possible sale.

"Coming off 2007 as our best year ever, we see many opportunities ahead driven by the strength of the Zagat brand and the expansion of our user-generated content and distribution vehicles," said Co-Chairmen Tim and Nina Zagat in a prepared statement. "From this position and with the changes in the broader media and technology environments, we have determined that it is the right time to take a look at our company's options for even more rapid long-term growth."

The company has hired Goldman Sachs Group Inc. as their financial adviser, and is considering either a sale or possible partnerships.

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