Guests at Buffets Inc.'s restaurants may have had their fill, but bankers are likely hoping that bidders haven't. The owner of such buffet-style chains as Ryan’s, Hometown Buffet and Old Country Buffet hired Moelis & Co. LLC to explore a potential sale of the entire company. 

Privately held Buffets announced late Thursday, May 12, that it will evaluate strategic options with the intention of raising shareholder value. Joe Kennedy, Jeff Raich and Todd Wadler of Moelis will run an auction process.

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