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Tuesday, February 20, 2018

-=Fogo de Chao (FOGO) to be acquired by Rhone Group for $560 million in cash

Fogo de Chão is a fine dining, full-service Brazilian steakhouse or churrascaria. Fogo de Chão currently operates 35 locations in the United States, 10 locations in Brazil, and 2 in Mexico. 
Headquarters: Dallas, TX

Rhône Group is a global private equity firm, specializing in mergers and acquisitions, leveraged buyouts, recapitalizations, and partnerships with particular focus on European and trans-Atlantic investments.
Founded: 1995
Number of employees: 100
Headquarters: New York City, NY
Founders: Robert Agostinelli, Steven Langman

Fogo de Chao to be acquired by Rhone Capital for $15.75/share in cash, or approximately $560 mln 
The transaction is the result of a comprehensive strategic alternatives review process taken by the Company's Board of Directors. The transaction has been unanimously approved by Fogo's Board of Directors. Funds affiliated with Thomas H. Lee Partners, L.P. and certain of Fogo's directors and executive officers, which collectively hold more than 60 percent of Fogo's shares, have approved the transaction by written consent. The acquisition is expected to be completed during the second calendar quarter of 2018, subject to regulatory approvals and other customary closing conditions.

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