Golden Gate Capital on Thursday said that its acquisition entity had completed its tender offer for the casual restaurant chain California Pizza Kitchen Inc., the first part of Golden Gate’s $470 million acquisition.

CPK Merger Sub Inc., an affiliate of Golden Gate Capital Opportunity Fund L.P., paid $18.50 per share for nearly 21.6 million shares tendered by the Wednesday deadline.

The San Francisco-based private equity firm first announced its intention to acquire Los Angeles-based California Pizza in May and controls 88 percent of outstanding shares. After the merger is complete, all remaining shares it does not own will be canceled and converted into the right to receive $18.50 per share. The company will go private.

Shares were up 2 cents, or less than 1 percent to $18.50 in midday trading on the Nasdaq.